Wednesday, May 27, 2009

Commodities pull back

S&P found some support at 906 and resistance at 911. It is now stuck in a very narrow range. Thanks for the Energy and Technology stocks helping S&P stay in green.

Oil pulled back from its days highs to $62.45 a barrel. OPEC meeting will be held tomorrow. The productions cut is unlikely according to reports.

Gold also is having an uneventful morning. It is trading at 953.30, unchanged.