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+
GENERAL STOCK MARKET COMMENT: The U.S. stock indexes closed
lower today on profit-taking pressure that was not
unexpected as prices have recently hit for-the-move highs.
The stock index bulls still have good upside near-term
technical momentum on their side. It’s those quiet,
unassuming price trends like those in the stock indexes at
present that are most likely to continue.
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March U.S. T-Bonds closed down 10/32 at 143 8/32 today.
Prices closed near mid-range today. The bond market bulls
still have the overall near-term technical advantage. The
next downside price breakout objective for the T-Bond bears
is closing prices below solid technical support at the
January low of 140 21/32.
ENERGY MARKETS
ENERGIES: March crude oil closed up $1.15 a barrel at
$101.89 today. Prices closed nearer the session high today
and hit another fresh four-week high. Crude oil bulls have
the overall near-term technical advantage and have gained
some upside momentum recently.
March heating oil closed up 238 points at $3.1886 today.
Prices closed near mid-range today. Bulls have the solid
overall near-term technical advantage. The bulls’ next
upside price breakout objective is closing prices above
solid technical resistance at the June 2011 high of
$3.2244.
March (RBOB) unleaded gasoline closed up 242 points at
$3.0067 today. Prices closed near mid-range today and did
hit another fresh nine-month high today. Bulls have the
solid overall near-term technical advantage. The next
upside price breakout objective for the bulls is closing
prices above solid technical resistance at $3.1000.
March natural gas closed down 9.4 cents at $2.438 today.
Prices closed nearer the session low today. Bears have the
solid overall near-term technical advantage. The next
upside price breakout objective for the bulls is closing
prices above solid technical resistance at $2.844.
CURRENCIES
CURRENCIES: The March Euro currency
closed down 17 points at 1.3077 today. Prices closed nearer
the session low again today. Bears have the overall near-
term technical advantage. Euro bulls’ next upside price
breakout objective is pushing and closing prices above
solid technical resistance at 1.3400.
The March Japanese yen closed up 21 points at 1.2765 today.
Prices closed near mid-range today and did hit a fresh
seven-week low early on. Bears still have downside near-
term technical momentum. The bears have the solid near-term
technical advantage.
The March Swiss franc closed down 12 points at 1.0840
today. Prices closed nearer the session low again today.
Bears have the overall near-term technical advantage. The
next upside price breakout objective for the bulls is
closing prices above solid resistance at 1.1100.
The March Canadian dollar closed up 27 points at 1.0003
today. Prices closed nearer the session low again today.
Bulls have the overall near-term technical advantage. A
three-month-old uptrend line is still in place on the daily
bar chart.
The March British pound closed up 47 points at 1.5700
today. Prices closed near mid-range today. The bulls have
faded recently. Bulls and bears are on a level near-term
technical playing field. The next upside price breakout
objective for the bulls is closing prices above solid
technical resistance at the February high of 1.5924.
The March U.S. dollar index closed up 2 points at 79.72
today. Prices closed nearer the session high again today
and hit another fresh three-week high. Bulls have regained
some upside technical momentum and have the overall near-
term technical advantage.
PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals
METALS: April gold futures closed up $11.60 an ounce at
$1,729.30 today. Prices closed near mid-range today as
bargain hunters stepped in to buy the recent dip. The key
outside markets were mostly bullish for gold today–the
U.S. dollar index was steady-weaker and crude oil prices
were higher. Gold bulls still have the overall near-term
technical advantage, but need to show more power soon to
suggest a near-term price uptrend can be restarted.
March silver futures closed down $0.128 an ounce at $33.22
today. Prices closed near the session low today and scored
a mildly bearish “outside day” down on the daily bar chart.
The key outside markets were mostly bullish for silver
today–the U.S. dollar index was steady to weaker and crude
oil prices were higher. That did limit the downside in
silver. Silver bulls still have the overall near-term
technical advantage. Prices have been trading sideways for
three weeks.
March N.Y. copper closed down 120 points 380.25 cents
today. Prices closed nearer the session low today and saw
more profit taking from recent gains. The key outside
markets mostly bullish for copper today–the U.S. dollar
index was steady weaker and crude oil and prices were
higher. Copper bulls still have the overall near-term
technical advantage. Prices are in a two-month-old uptrend
on the daily bar chart.
FOOD & FIBER http://quotes.ino.com/exchanges/?c=food
SOFTS: May sugar closed up 20 points at 23.58 cents
today. Prices closed nearer the session high today. The key
“outside markets” were in a mostly bullish posture for
sugar today, as the U.S. dollar index was steady to weaker
and crude oil prices were higher. Sugar bears still have
the overall near-term technical advantage.
May coffee closed down 315 points at 203.00 cents. Prices
closed nearer the session low and hit another fresh 14-
month low today. Coffee bears have the solid overall near-
term technical advantage and have gained fresh downside
momentum this week. However, the market is now well
overdone on the downside and due for at least a corrective
upside bounce very soon. Coffee prices are in a choppy,
five-month-old downtrend on the daily bar chart.
May cocoa closed up $130 at $2,400 a ton. Prices closed
near the session high again today on more short covering
and bargain-hunting buying interest. Cocoa bulls and bears
are now on a level near-term technical playing field as
bulls have gained good upside momentum this week.
May cotton closed up 64 points at 93.48 cents today. Prices
closed near mid-range today and saw more short covering in
a bear market. The key “outside markets” were in a mostly
bullish posture for cotton today, as the U.S. dollar index
was steady to weaker and crude oil prices were higher.
Cotton bears still have the overall near-term technical
advantage.
May orange juice closed up 165 points at $1.7885 today.
Prices closed near mid-range today. Some short covering was
featured today. Bulls have badly recently as it still looks
like a market top is in place.
March lumber futures closed down $3.40 at $263.00 today.
More profit-taking from recent strong gains was seen today
and the bulls are fading. The lumber bulls still have the
slight overall near-term technical advantage but need to
show fresh power soon.
GRAINS http://quotes.ino.com/exchanges/?c=grains
GRAINS: May corn futures closed down 7 cents at $6.31
today. Prices closed nearer the session low today and hit a
fresh three-week low. Bulls faded today and the specter of
the seasonal “February Break” price weakness has re-
emerged. Corn market bears today gained the slight near-
term technical advantage.
May soybeans closed up 6 1/4 cents at $12.68 3/4 a bushel
today. Prices closed near mid-range today and hit another
fresh 3.5-month high. Good export demand, including a fresh
sale to China announced today, and dry weather in South
American soybean regions have boosted soybeans. Soybean
bulls have the near-term technical advantage and have
gained upside momentum recently. Prices are in a five-week-
old uptrend on the daily bar chart.
May soybean meal closed up $2.60 at $335.10 today. Prices
closed near mid-range today and hit a fresh 4/5-month high.
Bulls have the near-term technical advantage in meal and
have gained upside momentum just recently. Prices are in a
five-week-old uptrend on the daily bar chart.
May bean oil closed up 33 points at 53.71 cents today.
Prices closed nearer the session high today and hit another
fresh six-week high. The key “outside markets” were in a
mostly bullish posture for bean oil today, as the U.S.
dollar index was steady to weaker and crude oil prices were
higher. Bean oil bulls have the near-term technical
advantage.
May Chicago SRW wheat closed down 5 cents at $6.34 today.
Prices closed nearer the session low and hit a fresh three-
week low today. Bears are gaining downside near-term
technical momentum. A big Australian wheat crop forecast
has helped to sink wheat futures this week. Wheat bears
have the near-term technical advantage.
May K.C. HRW wheat closed down 5 1/4 cents at $6.77 1/2
today. Prices closed nearer the session low today and hit a
fresh three-week low. Bears have the near-term technical
advantage and gained some fresh downside momentum today. A
bearish double-top reversal pattern has formed on the daily
bar chart.
LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock
LIVESTOCK: April live cattle closed down $0.35 at
$128.90 today. Prices closed nearer the session low today
after hitting a fresh contract high early on. Mild profit-
taking pressure was featured. Bulls still have solid upside
momentum on their side. Cash cattle market fundamentals
this week are viewed as very bullish. Cattle futures bulls
have the solid overall near-term technical advantage.
May feeder cattle closed up $0.22 at $159.95 today. Prices
closed near mid-range today and hit another fresh contract
high. Feeder bulls have solid upside momentum and have the
solid overall near-term technical advantage.
April lean hogs closed down $0.72 at $88.90 today. Prices
closed near the session low today. Hog market bulls and
bears are on a level near-term technical playing field as
trading has turned choppy. However, it’s likely that the
downside in hogs will be limited in the near-term by the
sharply higher cattle and feeder cattle futures prices.
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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.
More at http://quotes.ino.com/analysis/extremes/futures/
WINNERS
BCX.V12 SOYBEANS CRUSH INDEX Oct 2012 68.00 4.75 +7.51
CSI.N12 SOYBEAN-CORN PRICE RATIO Jul 2012 2.015 0.033 +1.66
SM.H12 SOYBEAN MEAL Mar 2012 332.8 2.7 +0.82
GI.G12 S&P GSCI Feb 2012 680.30 4.55 +0.67
BO.Q12 SOYBEAN OIL Aug 2012 54.23 0.34 +0.63
GC.J12 GOLD Apr 2012 1728.1 10.4 +0.60
YK.K12 SOYBEAN (MINI) May 2012 1268.750 6.250 +0.50
S.K12 SOYBEANS May 2012 1268.75 6.25 +0.49
RB.Y$$ CHEESE-BARRELS Cash 1480.0 5.0 +0.34
FC.H12 FEEDER CATTLE Mar 2012 156.625 0.375 +0.24
LOSERS
W.H12 WHEAT Mar 2012 626.0 -9.0 -1.42
LB.H12 LUMBER (RANDOM LENGTH) Mar 2012 263.0 -3.4 -1.27
C.Z13 CORN Dec 2013 548.25 -7.00 -1.26
YC.N12 CORN (MINI) Jul 2012 634.0 -7.5 -1.17
NG.Q13 NATURAL GAS Aug 2013 3.772 -0.038 -1.00
VB RUSSELL 2000 VALUE INDEX 1064.58 -9.66 -0.90
KW.H12 HARD RED WINTER WHEAT Mar 2012 670.00 -5.50 -0.81
LH.J12 LEAN HOGS Apr 2012 88.900 -0.725 -0.81
GH RUSSELL 2000 GROWTH INDEX 471.77 -3.49 -0.73
ND.H12 NASDAQ 100 INDEX Mar 2012 2557.5 -18.5 -0.72
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E X T R E M E S T O C K S
____________________________________________________________________________
Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/
WINNERS
BLLAY BILLABONG INTL ADR 5.99 1.95 +48.27
EGY VAALCO ENERGY 8.54 1.37 +19.11
XEC CIMAREX ENERGY 81.56 12.78 +18.58
ALNY ALNYLAM PHARMACEUTICALS 12.54 1.56 +14.21
AERL ASIA ENTERTAINMENT 7.23 0.89 +14.04
HVU HORIZONS BETAPRO S&P 500 VIX B 11.70 1.24 +11.85
DF DEAN FOODS 11.99 1.12 +10.30
SAVB SAVANNAH BANCORP 5.17 0.45 +9.53
HW HARRY WINSTON DIAMOND CORP 12.99 1.10 +9.25
WCG WELLCARE HEALTH PLANS 68.76 5.80 +9.21
LOSERS
ZNGA ZYNGA 11.790 -2.562 -17.85
IPSU IMPERIAL SUGAR 5.6910 -0.9890 -14.81
NBG.PR.A NATIONAL BANK of GREECE 5.105 -0.695 -11.98
AAWW ATLAS AIR WORLDWIDE 44.98 -5.48 -10.86
WSH WILLIS GROUP HOLDINGS 34.50 -4.17 -10.78
IMI INTERMOLECULAR 7.70 -0.91 -10.57
BVSN BROADVISION 29.66 -3.41 -10.31
DGI DIGITALGLOBE 15.53 -1.74 -10.08
CW CURTISS-WRIGHT 36.94 -3.88 -9.51
CEDC CENTRAL EUROPEAN 5.755 -0.555 -8.80
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T H A N K Y O U
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