Thursday Gold +1.99 S&P +3.73 DOW +34.66 NAS +23.39 CRB +5.87 USD -0.108

E X T R E M E   M A R K E T   C O M M E N T A R Y
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STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+

The September NASDAQ 100 closed higher on Thursday as it extended the rally
off last week’s low. The high-range close sets the stage for a steady to higher
opening when Friday’s night session begins trading. Stochastics and the RSI are
bullish signaling that sideways to higher prices are possible near-term. If
September extends the rally off last week’s low, gap resistance crossing at
2686.50 is the next upside target. If September renews this month’s decline,
the reaction low crossing at 2503.50 is the next downside target. First
resistance is today’s high crossing at 2658.00. Second resistance is gap
resistance crossing at 2686.50. First support is last Thursday’s low crossing
at 2516.50. Second support is the reaction low crossing at 2503.50.

The September S&P 500 index closed higher on Thursday as it extends the
rally off last Thursday’s low. The mid-range close sets the stage for a steady
to higher opening when Friday’s night session begins trading. Stochastics and
the RSI are bullish signaling that sideways to higher prices are possible
near-term. If September extends this week’s rally, May’s high crossing at
1395.50 is the next upside target. Closes below the 20-day moving average
crossing at 1342.79 would confirm that a short-term top has been posted. First
resistance is this month’s high crossing at 1374.90. Second resistance is May’s
high crossing at 1395.50. First support is last Thursday’s low crossing at
1320.00. Second support is the reaction low crossing at 1302.70.

The Dow closed higher on Thursday as it extended the rally off last
Thursday’s low. The mid-range close sets the stage for a steady to higher
opening on Friday. Stochastics and the RSI are bullish signaling that sideways
to higher prices are possible near-term. If the Dow extends the rally off last
week’s low, May’s high crossing at 13,338 is the next upside target. Closes
below the 20-day moving average crossing at 12,727 would confirm that a
short-term top has been posted. First resistance is today’s high crossing at
12,977. Second support is May’s high crossing at 13,338. First support is the
20-day moving average crossing at 12,727. Second support is last Thursday’s low
crossing at 12,492.
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INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

September T-bonds closed down 18/32’s at 150-23.

September T-bonds closed lower due to profit taking on Thursday and below
the 10-day moving average crossing at 151-00 signaling that a short-term top
might be in or is near. The low-range close sets the stage for a steady to
lower opening on Friday. Stochastics and the RSI are overbought and are turning
neutral to bearish hinting that a short-term top might be in or is near. Closes
below the 20-day moving average crossing at 149-31 are needed to confirm that a
short-term top has been posted. If September extends this month’s rally, June’s
high crossing at 152-19 is the next upside target. First resistance is Monday’s
high crossing at 152-10. Second resistance is June’s high crossing at 152-19.
First support is the 20-day moving average crossing at 149-31. Second support
is the reaction low crossing at 147-21.

ENERGY MARKETS

August crude oil closed higher on Thursday and above the 38% retracement
level of this year’s decline crossing at 90.43 as it extends the rally off
June’s low. The high-range close sets the stage for a steady to higher opening
when Friday’s night session begins. Stochastics and the RSI are overbought but
remain bullish signaling that sideways to higher prices are possible near-term.
If August extends the rally off June’s low, the 50% retracement level of this
year’s decline crossing at 94.41 is the next upside target. Closes below the
20-day moving average crossing at 84.57 would temper the near-term friendly
outlook. First resistance is today’s high crossing at 92.94. Second resistance
is the 50% retracement level of this year’s decline crossing at 94.41. First
support is the 10-day moving average crossing at 87.34. Second support is the
20-day moving average crossing at 84.57.

August heating oil closed higher on Thursday and above the 50% retracement
level of the March-June decline crossing at 292.19 as it extended the rally off
June’s low. The high-range close sets the stage for a steady to higher opening
when Friday’s session begins trading. Stochastics and the RSI are overbought
but remain neutral to bullish signaling that sideways to higher prices are
possible near-term. If August extends the rally off June’s low, the 62%
retracement level of the March-June decline crossing at 301.88 is the next
upside target. Closes below the 20-day moving average crossing at 271.04 would
confirm that a short-term top has been posted. First resistance is the 62%
retracement level of the March-June decline crossing at 301.88. Second
resistance is the 75% retracement level of the March-June decline crossing at
312.72. First support is the 10-day moving average crossing at 279.95. Second
support is the 20-day moving average crossing at 271.04.

August unleaded gas closed higher on Thursday as it extends the rally off
June’s low. The high-range close sets the stage for a steady to higher opening
when Friday’s night session begins trading. Stochastics and the RSI are
overbought but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If August extends the rally off June’s low, the
62% retracement level of the March-June decline crossing at 295.32 is the next
upside target. Closes below the 20-day moving average crossing at 268.97 would
confirm that a short-term top has been posted. First resistance is the 62%
retracement level of the March-June decline crossing at 295.32. Second
resistance is the 75% retracement level of the March-June decline crossing at
306.20. First support is the 10-day moving average crossing at 281.35. Second
support is the 20-day moving average crossing at 268.97.

August Henry natural gas closed higher on Thursday. The high-range close
sets the stage for a steady to higher opening on Friday. Stochastics and the
RSI are turning neutral to bullish signaling that sideways to higher prices are
possible near-term. If July renews the rally off June’s low, February’s high
crossing at 3.137 is the next upside target. Closes below the reaction low
crossing at 2.718 are needed to confirm that a short-term top has been posted.
First resistance is the reaction high crossing at 3.060. Second resistance is
February’s high crossing at 3.137. First support is the reaction low crossing
at 2.718. Second support is the reaction low crossing at 2.659.

CURRENCIES

The September Dollar closed lower on Thursday as it extended this week’s
decline. The low-range close sets the stage for a steady to lower opening on
Friday. Stochastics and the RSI are bearish hinting that a double top with
June’s high might have been posted last week. Closes below the 20-day moving
average crossing at 82.89 would confirm that a double top has been posted. If
September extends the rally off June’s low, June’s high crossing at 84.00 is
the next upside target. First resistance is last Thursday’s high crossing at
83.98. Second resistance is June’s high crossing at 84.00. First support is the
20-day moving average crossing at 82.89. Second support is the reaction low
crossing at 81.56.

The September Euro closed higher on Thursday as it extends the rebound off
last week’s low. The mid-range close sets the stage for a steady opening on
Friday. Stochastics and the RSI are turning bullish hinting that a low might be
in or is near. Closes above the 20-day moving average crossing at 124.01 would
confirm that a low has been posted. If September renews this year’s decline,
monthly support crossing at 118.74 is the next downside target. First
resistance is today’s high crossing at 123.35. Second resistance is the 20-day
moving average crossing at 124.01. First support is last Friday’s low crossing
at 121.71. Second support is monthly support crossing at 118.74.

The September British Pound closed higher on Thursday as it extends the
rally off last week’s low. The high-range close sets the stage for a steady to
higher opening when Friday’s night session begins trading. Stochastics and the
RSI are bullish signaling that sideways to higher prices are possible
near-term. If September extends this week’s rally, June’s high crossing at
1.5773 is the next upside target. Closes below the 10-day moving average
crossing at 1.5559 would confirm that a short-term top has been posted. First
resistance is today’s high crossing at 1.5736. Second resistance is June’s high
crossing at 1.5773. First support is the 10-day moving average crossing at
1.5559. Second support is last Thursday’s low crossing at 1.5390.

The September Swiss Franc closed higher on Thursday as it extended the rally
off last week’s low. The mid-range close sets the stage for a steady to higher
opening when Friday’s night session begins trading. Stochastics and the RSI are
turning bullish hinting that a low might be in or is near. Closes above the
20-day moving average crossing at crossing at .10335 are needed to confirm that
a short-term low has been posted. If September renews the decline off June’s
high, monthly support crossing at .9939 is the next downside target. First
resistance is today’s high crossing at crossing at .10274. Second resistance is
the 20-day moving average crossing at .10335. First support is last Friday’s
low crossing at .10142. Second support is monthly support crossing at .9939.

The September Canadian Dollar closed higher on Thursday as it extends the
rally off June’s low. The high-range close sets the stage for a steady to
higher opening when Friday’s night session begins trading. Stochastics and the
RSI are overbought but remain bullish signaling that sideways to higher prices
are possible near-term. If September extends the rally off June’s low, the 62%
retracement level of the April-June decline crossing at 99.33 is the next
upside target. Closes below the 20-day moving average crossing at 97.92 are
needed to confirm that a short-term top has been posted. First resistance is
today’s high crossing at 99.21. Second resistance is the 62% retracement level
of this spring’s decline crossing at 99.33. First support is the reaction low
crossing at 96.32. Second support is June’s low crossing at 95.54.

The September Japanese Yen closed higher on Thursday and the high-range
close sets the stage for a steady to higher opening when Friday’s night session
begins trading. Stochastics and the RSI are overbought but remain neutral to
bullish signaling that sideways to higher prices are possible near-term. If
September extends this week’s rally, June’s high crossing at .12895 is the next
upside target. If September renews the decline off this month’s high, the 50%
retracement level of the March-June rally crossing at .12404 is the next
downside target. First resistance is today’s high crossing at .12766. Second
resistance is June’s high crossing at .12895. First support is the reaction low
crossing at .12416. Second support is the 50% retracement level of the
March-June rally crossing at .12404.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

August gold closed higher on Thursday as it consolidated some of Wednesday’s
decline. The mid-range close sets the stage for a steady opening when Friday’s
night session begins trading. Stochastics and the RSI are neutral to bullish
signaling that sideways to lower prices are possible near-term. If August
renews this month’s decline, the reaction low crossing at 1547.60 is the next
downside target. Multiple closes above the reaction high crossing at 1598.80
would confirm that a short-term low has been posted. First resistance is the
reaction high crossing at 1598.80. Second resistance is this month’s high
crossing at 1625.70. First support is the reaction low crossing at 1547.60.
Second support is May’s low crossing at 1529.30.

September silver closed higher on Thursday but the low-range close set the
stage for a steady to lower opening when Friday’s night session begins trading.
Stochastics and the RSI are neutral to bullish hinting that a low might be in
or is near. If September renews the rally off June’s low, June’s high crossing
at 29.915 is the next upside target. If September extends this month’s decline,
June’s low crossing at 26.105 is the next downside target. First resistance is
the reaction high crossing at 29.135. Second resistance is June’s high crossing
at 29.915. First support is June’s low crossing at 26.105. Second support is
weekly support crossing at 24.689.

September copper closed higher on Thursday and the high-range close sets the
stage for a steady to higher opening when Friday’s night session begins
trading. Stochastics and the RSI are bullish signaling that sideways to higher
prices are possible. If September renews the rally off June’s low, the 50%
retracement level of this year’s decline crossing at 362.77 is the next upside
target. Closes below the 20-day moving average crossing at 342.54 would confirm
that a short-term top has been posted while opening the door for additional
weakness near-term. First resistance is this month’s high crossing at 355.65.
Second resistance is the 50% retracement level of this year’s decline crossing
at 362.77. First support is June’s low crossing at 325.00. Second support is
the 87% retracement level of the October-February rally crossing at 320.07.

FOOD & FIBER http://quotes.ino.com/exchanges/?c=food

September coffee close higher on Thursday and the high-range close sets the
stage for a steady to higher opening on Friday. Stochastics and the RSI are
neutral to bearish hinting that a short-term top might be in or is near. Closes
below the 20-day moving average crossing at 17.53 would temper the near-term
friendly outlook. If September extend the rally off June’s low, April’s high
crossing at 19.55 is the next upside target.

September cocoa closed higher on Thursday but remains below the 20-day
moving average crossing at 22.31. The low-range close sets the stage for a
steady to lower opening on Friday. Stochastics and the RSI are bearish
signaling that sideways to lower prices are possible near-term. If September
renews this month’s decline, the reaction low crossing at 20.85 is the next
downside target. Closes above the 10-day moving average crossing at 22.40 would
temper the near-term bearish outlook.

October sugar closed higher on Thursday renewing the rally off June’s low.
The high-range close set the stage for a steady to higher opening on Friday.
Stochastics and the RSI are overbought but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If October extends the
rally off June’s low, the 75% retracement level of this spring’s decline
crossing at 23.32 is the next upside target. Closes below the 20-day moving
average crossing at 21.78 would confirm that a short-term top has been posted.

October cotton closed higher on Thursday and the high-range close sets the
stage for a steady to higher opening on Friday. Stochastics and the RSI are
neutral to bearish signaling that sideways to lower prices are possible
near-term. Closes above 75.00 or below 65.00 are needed to confirm a breakout
of June’s trading range and point the direction of the next trending move.

GRAINS http://quotes.ino.com/exchanges/?c=grains

December Corn closed down 5 3/4-cents at 7.78 1/2.

December corn closed lower due to profit taking on Thursday as it
consolidates some of this summer’s rally. The low-range close sets the stage
for a steady to lower opening when Friday’s night session begins trading.
Stochastics and the RSI are overbought but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If December extends this
summer’s rally, a test of the all-time high for a lead futures contract of
$7.99-3/4 set in 2008 is the next upside target. Initial support is the 10-day
moving average crossing at 7.42 1/4. Closes below the 20-day moving average
crossing at 6.84 1/4 would confirm that a top has been posted. First resistance
is today’s high crossing at 7.99. Second resistance is weekly resistance
crossing at 7.79 3/4. First support is the 10-day moving average crossing at
7.42 1/4. Second support is the reaction low crossing at 6.85 1/4.

December wheat closed up 22-cent at 9.34 1/2.

December wheat closed higher on Thursday as it extended this week’s rally.
The high-range close sets the stage for a steady to higher opening when
Friday’s night session begins trading. Stochastics and the RSI are overbought
but remain neutral to bullish signaling that sideways to higher prices are
possible near-term. If December extends the rally off June’s low, the May-2011
high crossing at 9.77 1/2 is the next upside target. Initial support begins
with the 10-day moving average crossing at 8.70 1/4. Closes below the 20-day
moving average crossing at 8.20 are needed to confirm that a top has been
posted. First resistance is today’s high crossing at 9.42 3/4. Second
resistance is the May-2011 high crossing at 9.77 1/2. First support is the
10-day moving average crossing at 8.70 1/4. Second support is the 20-day moving
average crossing at 8.20.

December Kansas City Wheat closed up 27-cents at 9.51.

December Kansas City wheat gapped up and closed higher on Thursday as it
extends this summer’s rally. The high-range close sets the stage for a steady
to higher opening on Friday. Stochastics and the RSI are overbought but are
neutral to bullish signaling that sideways to higher prices are possible
near-term. If December extends this summer’s rally, the May-2011 high crossing
at 9.78 1/2 is the next upside target. Closes below the 20-day moving average
crossing at 8.30 1/2 would confirm that a short-term top has been posted. First
resistance is today’s high crossing at 9.51. Second resistance is the May-2011
high crossing at 9.78 1/2. First support is today’s gap crossing at 9.26.
Second support is the 10-day moving average crossing at 8.80.

December Minneapolis wheat closed up 24 1/2-cents at 10.20 1/4.

December Minneapolis wheat closed higher on Thursday as it extended this
summer’s rally. The high-range close sets the stage for a steady to higher
opening when Friday’s night session begins to trade. Stochastics and the RSI
are overbought but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If December extends this rally, weekly
resistance crossing at 10.70 3/4 is the next upside target. Closes below the
10-day moving average crossing at 9.51 3/4 would temper the near-term friendly
outlook. First resistance is today’s high crossing at 10.27 1/2. Second
resistance is weekly resistance crossing at 10 70 3/4. First support is the
10-day moving average crossing at 9.51 3/4. Second support is the reaction low
crossing at 8.99 1/4.

SOYBEAN COMPLEX

November soybeans closed up 32 1/4-cents at 16.52 1/4.

November soybeans closed higher on Thursday as it extends this summer’s
rally. If November extends this summer’s rally, this year’s expired July
contract high of $16.79-1/2 is the next upside target. The high-range close
sets the stage for a steady to higher opening when Friday’s night session
begins trading. Stochastics and the RSI are overbought but are neutral to
bullish signaling that sideways to higher prices are possible near-term. Closes
below the 20-day moving average crossing at 14.95 3/4 would confirm that a top
has been posted. First resistance is today’s high crossing at 16.73 3/4. Second
resistance is this year’s expired July contract high of $16.79-1/2. First
support is the 10-day moving average crossing at 15.64 3/4. Second support is
the 20-day moving average crossing at 14.95 3/4.

December soybean meal closed up $8.30 at $487.30.

December soybean meal closed higher on Thursday as it extends this summer’s
rally. The mid-range close sets the stage for a steady opening when Friday’s
night session begins trading. Stochastics and the RSI are overbought but remain
neutral to bullish signaling that sideways to higher prices are possible
near-term. If December extends this year’s rally into uncharted territory,
upside targets will be hard to project. Closes below the 20-day moving average
crossing at 437.50 would confirm that a short-term top has been posted. First
resistance is today’s high crossing at 499.00. First support is the 10-day
moving average crossing at 457.70. Second support is the 20-day moving average
crossing at 437.50.

December soybean oil closed up 36-pts. at 55.21.

December soybean closed higher on Thursday and the high-range close sets the
stage for a steady to higher opening when Friday’s night session begins
trading. Stochastics and the RSI are neutral hinting that a short-term top
might be in or is near. Closes below the 20-day moving average crossing at
53.64 would confirm that a short-term top has been posted. If December renews
the rally off June’s low, the 87% retracement level of the April-June decline
crossing at 57.23 is the next upside target. First resistance is last Monday’s
high crossing at 56.00. Second resistance is the 87% retracement level of this
spring’s decline crossing at 57.23. First support is the reaction low crossing
at 53.91. Second support is the 20-day moving average crossing at 53.64.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

August hogs closed up $0.42 at $93.05.

August hogs gapped up and closed higher on Thursday as it extended this
week’s rally. The low-range close sets the stage for a steady to lower opening
when Friday’s night session begins trading. Stochastics and the RSI are turning
neutral to bullish signaling that sideways to higher prices are possible
near-term. If August extends today’s rally, July’s high crossing at 96.15 is
the next upside target. If August renews this month’s decline, June’s low
crossing at 88.10 is the next downside target. First resistance is today’s high
crossing at 94.15. Second resistance is this month’s high crossing at 96.15.
First support is Monday’s low crossing at 89.75. Second support is June’s low
crossing at 88.10.

August cattle closed up $0.87 at 118.95.

August cattle closed higher on Thursday as it extends this week’s rally. The
high-range close sets the stage for a steady to higher opening when Friday’s
night session begins trading. Stochastics and the RSI are turning neutral to
bullish signaling that sideways to higher prices are possible near-term. If
August extends today’s rally, the reaction high crossing at 120.55 is the next
upside target. If August renews this month’s decline, April’s low crossing at
114.70 is the next downside target. First resistance is today’s high crossing
at 119.10. Second resistance is the reaction high crossing at 120.55. First
support is Tuesday’s low crossing at 115.45. Second support is April’s low
crossing at 114.70.

August feeder cattle closed up $1.90 at $139.10.

August Feeder cattle closed higher on Thursday as it extended the rebound
off Tuesday’s low. The high-range close sets the stage for a steady to higher
opening when Friday’s night session begins trading. Stochastics and the RSI are
turning bullish signaling that sideways to higher prices are possible
near-term. Closes above the 20-day moving average crossing at 145.09 would
confirm that a short-term low has been posted. If August extends this summer’s
decline, weekly support crossing at 132.66 is the next downside target. First
resistance is the 10-day moving average crossing at 140.51. Second resistance
is the 20-day moving average crossing at 145.09. First support is Tuesday’s low
crossing at 133.10. Second support is weekly support crossing at 132.66.

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E X T R E M E   F U T U R E S
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Updated every 10 minutes around the clock.
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WINNERS

BCX.Q13 SOYBEANS CRUSH INDEX Aug 2013               51.75      3.50  +7.25
YW.U12  WHEAT (MINI) Sep 2012                      935.00     31.75  +3.53
KW.U12  HARD RED WINTER WHEAT Sep 2012              938.0      32.0  +3.52
SM.Q12  SOYBEAN MEAL Aug 2012                         532        18  +3.50
W.U12   WHEAT Sep 2012                             931.00     27.75  +3.06
S.Q12   SOYBEANS Aug 2012                          1730.0      46.5  +2.77
CSI.X12 SOYBEAN-CORN PRICE RATIO Nov 2012           2.122     0.056  +2.71
GI.Q12  S&P GSCI Aug 2012                          654.00     14.75  +2.31
C.U12   CORN Sep 2012                              810.00     15.00  +1.89
HG.U12  COPPER Sep 2012                            3.5345    0.0605  +1.74

LOSERS

YC.Z13  CORN (MINI) Dec 2013                        609.0     -25.0  -3.94
SM.K13  SOYBEAN MEAL May 2013                       404.6     -11.2  -2.69
W.U13   WHEAT Sep 2013                             816.00    -20.75  -2.47
C.H13   CORN Mar 2013                              770.50    -12.75  -1.63
BCX.N13 SOYBEANS CRUSH INDEX Jul 2013               49.25     -0.75  -1.50
LH.G13  LEAN HOGS Feb 2013                         80.975    -0.950  -1.16
S.H13   SOYBEANS Mar 2013                            1530       -15  -0.97
VB      RUSSELL 2000 VALUE INDEX                  1052.08     -6.26  -0.59
US.U12  T-BONDS Sep 2012                        150.59375  -0.68750  -0.45
LB.U12  LUMBER (RANDOM LENGTH) Sep 2012             283.8      -1.0  -0.35

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E X T R E M E   S T O C K S
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WINNERS

MLNX    MELLANOX TECHNOLOGIES                     93.9998   27.6198  +41.61
SCSS    SELECT COMFORT                              27.60      5.83  +26.78
OCZ     OCZ TECH GROUP INC                           5.61      1.05  +23.03
EDU     NEW ORIENTAL                                11.23      1.73  +18.21
ROVI    ROVI                                        11.59      1.58  +15.78
FFKT    FARMERS CAPITAL BANK                         7.55      1.01  +15.44
CALX    CALIX                                       5.455     0.715  +15.08
GGC     GEORGIA GULF                                32.68      3.83  +13.28
DPM.WS.A DUNDEE PRECIOUS METALS INC                   5.33      0.60  +12.68
MGLN    MAGELLAN HEALTH SERVICES                    52.55      5.79  +12.38

LOSERS

IRG     IGNITE RESTAURANT GROUP                     15.15     -3.91  -20.51
OSG     OVERSEAS SHIPHOLDING                       6.5050 -1.3150  -16.82
WHX     WHITING USA TRUST I                          9.05     -1.66  -15.50
DCIX    DIANA CONTAINERSHIPS                         6.15     -1.05  -14.58
NVR     NVR                                        744.20   -122.23  -14.11
SYNC    SYNACOR INC                               13.0167 -1.9833  -13.22
XRS     TAL EDUCATION                                7.68     -1.13  -12.83
SYPR    SYPRIS SOLUTIONS                             6.44     -0.94  -12.74
VVUS    VIVUS                                       25.78     -3.22  -11.10
GLN     GLENTEL INC                                 10.53     -1.23  -10.46
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T H A N K   Y O U
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