daytrade diaries... wednesday

Morning traders.

Market wrap: Wall Street closed lower overnight as nervous investors await this week's key employment reports and the results of US government bank stress tests. The major indexes fell 0.2 - 0.5% after a press report that the government will force 10 banks to raise more capital. Trading was slow as investors wait Wednesday's private jobs report and Friday's official government numbers.

The S&P banking index gave back nearly 3% of Monday's 18% gain. REITs surrendered nearly half of Monday's rise. Gas and oil companies slipped as oil eased off Monday's five-month high, down 1% to $53.82.

Gold spiked higher overnight but has been in decline for the last few hours, recently trading at $896.40. Base metals were mixed, with copper slightly down but most others finishing flat or marginally positive.

Unsurprisingly, futures traders show no great conviction about where our market is headed today. The SPI closed 9 points up at 3893.

Essentially, there's not much there to drive our market up or down today, so we may be in for a listless session. However, there are opportunities in any conditions. Let's hear where people expect the moves.

Good luck to all.