Sterling Market Commentary for Thursday February 2nd, 2012

A Look at Wednesday’s Market:  The overall market moved moderately higher on Wednesday in a broad based move that saw almost every sector indices I track move higher on the day.  The strongest sectors on the day were the High Tech, Biotech, Broker/Dealers, Airlines, Banking, Cyclicals. Insurance and Chemicals.  Not a single stock index I track moved lower on the day.  Oil was lower by $0.87 to $97.61 per barrel, and Gold was higher by $9.30 to $1,747.10 per ounce.  In the grain market, Wheat was higher by $0.0882 to $6.742 per bushel, and Corn was higher by $0.030 to $6.420 per bushel, and Soybeans were higher by $0.162 to $12.152 per bushel.

A Few Thoughts Looking to Thursday’s Market:  In looking at the charts from Wednesday’s market I found nothing exciting or really worth mentioning.  Granted the overall trend of the market is still to the upside,  but considering that it is earning’s seanson I would expect the market to be performing better.

The Bottom Line:  Never short a dull market, and remember the longer a trend has been in place the more likely it is to fail.