New York Session - April 13, 2009 4:19 PM

The lack of top-tier economic events in the NY session had the market trading on technicals. US stocks managed to eke out a modest rally after a rollercoaster of a day that saw equities down as much as -1.3% and as high as +1.0%. Financials surged +4.8% on the day as hope springs eternal that most 1Q bank earnings will surprise to the upside. Gold maintained earlier gains and was sitting near 893/894 ahead of the NY close. The 100-day SMA sits at 884/885 and a close above that area looks constructive for the precious metal. Full text »