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
narrowly mixed today. Stock index bulls still have the
overall near-term technical advantage. Focus of the market
place is on this week’s meeting of the Federal Open Market
Committee of the U.S. Federal Reserve, and also on a German
constitutional court ruling Wednesday on the validity of
the European Stability Mechanism. There was a last-minute
effort on Tuesday by some EU politicians to delay the court
ruling, but those efforts quickly failed and the ruling
will occur Wednesday. The market place expects the German
court to uphold the ESM measures. Dutch elections are also
slated for Wednesday. The FOMC meeting starts on Wednesday
and ends on Thursday with Fed Chairman Bernanke holding a
press conference. Last week’s downbeat U.S. jobs report
likely opened the door wider for a fresh U.S. monetary
stimulus announcement by the FOMC. Such would be at least
initially bullish for the stock and commodity markets. In
overnight news, Asian and European stock markets were
weaker but quiet ahead of the FOMC meeting and German court
ruling. Spanish and Italian bond yields have inched up this
week, but are still near multi-month lows and well below
6%.
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December U.S. T-Bonds closed down 5/32 at 148 23/32 today.
Prices closed nearer the session low. Bulls do 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 August
low of 145 23/32.
ENERGY MARKETS http://quotes.ino.com/exchanges/category.html?c=energy
ENERGIES: October crude oil closed up $0.41 a barrel at
$96.95 today. Prices closed nearer the session high today
and closed at a fresh two-week high close. Crude oil bulls
have the overall near-term technical advantage. A two-
month-old price uptrend is still in place on the daily bar
chart, but just barely.
October heating oil closed up 202 points at $3.1870 today.
Prices closed nearer the session high today. Bulls have the
solid overall near-term technical advantage. Prices are in
a 10-week-old uptrend on the daily bar chart.
October (RBOB) unleaded gasoline closed up 205 points at
$3.0445 today. Prices closed nearer the session high and
closed at a fresh five-month high close again today. Bulls
have the solid overall near-term technical advantage.
Prices are in a nine-week-old uptrend on the daily bar
chart.
October natural gas closed up 18.5cents at $2.997 today.
Prices closed near the session high again today and hit a
fresh four-week high. Bulls gained fresh upside near-term
technical momentum today and now have the slight near-term
technical advantage.
CURRENCIES http://quotes.ino.com/exchanges/category.html?c=currencies
CURRENCIES: The December Euro
currency closed up 85 points at 1.2867 today. Prices closed
nearer the session high and hit a fresh four-month high
today. The Euro bulls still have the overall near-term
technical advantage. Prices are in a seven-week-old uptrend
on the daily bar chart.
The December Japanese yen closed up 84 points at 1.2874
today. Prices closed nearer the session high today and hit
a fresh 13-week high. Bulls have the overall near-term
technical advantage and gained more upside momentum today.
The December Swiss franc closed up 85 points at 1.0666
today. Prices closed nearer the session high today and
hit a fresh nearly three-month high. The Swissy bulls have
the solid overall near-term technical advantage and gained
more upside momentum today. Prices are in a seven-week-old
uptrend on the daily bar chart.
The December Canadian dollar closed up 45 points at 1.0253
today. Prices closed nearer the session high today and hit
another fresh 13-month high. Bulls have the solid overall
near-term technical advantage. Prices are in a three-month-
old uptrend on the daily bar chart.
The December British pound closed up 71 points at 1.6066
today. Prices closed nearer the session high and hit
another 3.5-month high today. Bulls have the solid overall
near-term technical advantage. Prices are in a two-month-
old uptrend on the daily chart.
The December U.S. dollar index closed down 52 points at
80.00 today. Prices closed near the session low and hit
another fresh four-month low today. The bears have the
solid near-term technical advantage. Prices are in a seven-
week-old downtrend on the daily bar chart.
PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals
METALS: December gold futures closed up $3.70 an ounce
at $1,735.50 today. Prices closed near mid-range. The key
“outside markets” were in a bullish posture for gold today
as the U.S. dollar index was lower and crude oil prices
were firmer. The market is consolidating this week after
last week’s big gains. Gold prices are still in a two-
month-old uptrend on the daily bar chart. The gold market
bulls have the solid overall near-term technical advantage.
December silver futures closed down $0.068 an ounce at
$33.565 today. Prices closed near mid-range today and saw
mild profit taking after prices Monday hit a five-month
high. Mild profit taking and a corrective pullback were
featured today. The key “outside markets” were in a bullish
posture for silver today as the U.S. dollar index was lower
and crude oil prices were firmer. That did limit selling
interest in silver today. Silver bulls are still in firm
near-term technical command.
December N.Y. copper closed up 55 points at 369.50 cents
today. Prices closed nearer the session high today and hit
another fresh four-month high. The key “outside markets”
were in a bullish posture for copper today as the U.S.
dollar index was lower and crude oil prices were firmer.
Copper bulls have the near-term technical advantage and
have gained good upside technical momentum recently.
FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food
SOFTS: October sugar closed steady at 19.43 cents today.
Prices closed near mid-range today. The key “outside
markets” were bullish for sugar today, as the U.S. dollar
index was lower and crude oil prices were firmer. Yet,
sugar prices could not rally, which is a bearish clue.
Sugar bears still have the solid overall near-term
technical advantage. There are no early clues to suggest a
market bottom is close at hand.
December coffee closed up 300 points at 176.65 cents.
Prices closed near mid-range today and hit another fresh
four-week high. The key “outside markets” were bullish for
coffee today, as the U.S. dollar index was lower and crude
oil prices were firmer. More short covering and bargain
hunting buying were featured today. Bulls have suddenly
gained fresh upside technical momentum.
December cocoa closed down $23 at $2,630 a ton. Prices
closed near mid-range today and saw more mild profit taking
after prices last week hit a 10-month high. Cocoa bulls
still have the solid overall near-term technical advantage.
December cotton closed down 70 points at 74.93 cents today.
Prices closed near the session low today. The key “outside
markets” were bullish for cotton today, as the U.S. dollar
index was lower and crude oil prices were firmer. Yet,
cotton sold off a bit, which is a bit bearish for cotton.
Still, cotton bulls have the slight near-term technical
advantage, but need to show more power soon. Prices are in
a three-month-old uptrend on the daily bar chart.
November orange juice closed down 275 points at $1.2410
today. Prices closed near the session low today and saw
more profit taking. The key “outside markets” were bullish
for FCOJ today, as the U.S. dollar index was lower and
crude oil prices were firmer. Yet, prices sold off, which
is a bearish clue. FCOJ bulls still have the overall near-
term technical advantage. Traders will continue to watch
for any fresh storms brewing in the Atlantic.
November lumber futures closed up $2.30 at $275.50 today.
Prices closed nearer the session high and saw short
covering in a bear market. Prices Monday hit a two-month
low. Bears still have the near-term technical advantage.
Prices are in a steep four-week-old downtrend on the daily
bar chart.
GRAINS http://quotes.ino.com/exchanges/category.html?c=grains
LIVESTOCK: October live cattle closed up $1.35 at
$127.10 today. Prices closed nearer the session high today
and hit a fresh five-month high. The key “outside markets”
were bullish for cattle today, as the U.S. dollar index was
lower and crude oil prices were firmer. Cattle bulls still
have the overall near-term technical advantage and gained
some more upside momentum today.
October feeder cattle closed down $0.22 at $146.35 today.
Prices closed near the session low on mild profit taking.
Feeder cattle bulls still have the near-term technical
advantage. Prices are still in a seven-week-old uptrend on
the daily bar chart.
October lean hogs closed up $0.15 at $72.72 today. Prices
closed nearer the session high today and saw tepid short
covering in a bear market after prices last Friday hit a
contract low. Bears still have the solid overall near-term
technical advantage.
GRAINS: December corn futures were down 6 cents at $7.77
in late trading today. Prices were nearer the session low
and hit another fresh six-week low today. Profit taking was
featured. The key “outside markets” were bullish for corn
today, as the U.S. dollar index was lower and crude oil
prices were firmer. Yet, corn sold off, which is a bearish
clue. The corn bulls do still have the overall near-term
technical advantage, but are fading amid seasonal harvest
pressure. Prices have been trending lower four the past
four weeks. Traders are now awaiting Wednesday morning’s
monthly USDA supply and demand report.
November soybeans were down 17 cents at $17.01 a bushel in
late trading today. Prices were nearer the session low and
hit a fresh three-week low. Profit taking and position
evening were featured. The key “outside markets” were
bullish for soybeans today, as the U.S. dollar index was
lower and crude oil prices were firmer. Yet, soybeans sold
off, which is a bearish clue. Soybean bulls still have the
overall near-term technical advantage but are fading a bit.
Traders are awaiting Wednesday morning’s monthly USDA
supply and demand report.
December soybean meal was down $4.10 at $515.30 in late
trading today. Prices were near the session low and hit a
fresh two-week low. Meal bulls still have the overall near-
term technical advantage. Prices are in a three-month-old
uptrend on the daily bar chart.
December bean oil was down 75 points at 55.81 cents in late
trading today. Prices were near the session low and hit a
fresh three-week low. Bean oil bulls still have the overall
near-term technical advantage, but are now fading.
December Chicago SRW wheat was down 5 3/4 cents at $8.84 in
late trading today. Prices were nearer the session low. The
key “outside markets” were bullish for wheat today, as the
U.S. dollar index was lower and crude oil prices were
firmer. Yet, the wheat market sold off, which is a bearish
clue. Wheat bulls still have the overall near-term
technical advantage. Traders are now awaiting Wednesday
morning’s monthly USDA supply and demand report.
December K.C. HRW wheat was down 1 3/4 cents at $9.03 in
late trading today. Prices were nearer the session low. The
bulls still have the overall near-term technical advantage.
LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock
LIVESTOCK: October live cattle closed up $1.35 at
$127.10 today. Prices closed nearer the session high today
and hit a fresh five-month high. The key “outside markets”
were bullish for cattle today, as the U.S. dollar index was
lower and crude oil prices were firmer. Cattle bulls still
have the overall near-term technical advantage and gained
some more upside momentum today.
October feeder cattle closed down $0.22 at $146.35 today.
Prices closed near the session low on mild profit taking.
Feeder cattle bulls still have the near-term technical
advantage. Prices are still in a seven-week-old uptrend on
the daily bar chart.
October lean hogs closed up $0.15 at $72.72 today. Prices
closed nearer the session high today and saw tepid short
covering in a bear market after prices last Friday hit a
contract low. Bears still have the solid overall near-term
technical advantage.
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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.F13 SOYBEANS CRUSH INDEX Jan 2013 43.00 2.75 +6.83
NG.X12 NATURAL GAS Nov 2012 3.104 0.163 +5.54
CSI.Q13 SOYBEAN-CORN PRICE RATIO Aug 2013 2.057 0.042 +2.03
LC.V12 LIVE CATTLE Oct 2012 127.10 1.35 +1.07
LB.X12 LUMBER (RANDOM LENGTH) Nov 2012 275.5 2.3 +0.84
MP.Z12 MEXICAN PESO Dec 2012 0.076275 0.000425 +0.56
VB RUSSELL 2000 VALUE INDEX 1108.54 5.51 +0.50
RV RUSSELL 1000 VALUE INDEX MINI 708.80 3.20 +0.45
FC.Q13 FEEDER CATTLE Aug 2013 157.2 0.7 +0.45
DJ.Z12 DJ INDUSTRIAL AVG Dec 2012 13215 58 +0.44
LOSERS
BCX.V13 SOYBEANS CRUSH INDEX Oct 2013 74.50 -3.50 -4.49
AA.Y$$ BUTTER-GRADE AA Cash 1820 -35 -1.89
LH.J13 LEAN HOGS Apr 2013 84.450 -1.325 -1.54
BO.H13 SOYBEAN OIL Mar 2013 56.37 -0.71 -1.24
S.X12 SOYBEANS Nov 2012 1699.50 -19.25 -1.12
YK.F13 SOYBEAN (MINI) Jan 2013 1700.75 -17.50 -1.02
C.K13 CORN May 2013 778.25 -6.00 -0.76
YC.Z12 CORN (MINI) Dec 2012 777.75 -5.50 -0.70
W.Z12 WHEAT Dec 2012 883.75 -6.00 -0.67
SM.Z12 SOYBEAN MEAL Dec 2012 515.9 -3.5 -0.67
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E X T R E M E S T O C K S
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Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/
WINNERS
WSB WSB HOLDINGS 5.360 2.440 +83.56
AXR AMREP 8.25 1.31 +18.88
HNU HB NYMEX NG BULL 13.93 1.45 +11.62
ANGI ANGIES LIST 10.93 1.04 +10.52
HSKA HESKA 8.82 0.83 +10.39
IMH IMPAC MTG HOLDINGS 8.10 0.76 +10.35
JAZZ JAZZ PHARMACEUTICALS 47.84 4.28 +9.83
SDRXN SANDRIDGE ENERGY INC 111.469 9.530 +9.35
COA COASTAL CONTACTS INC 7.2 0.6 +9.09
SLCA US SILICA HOLDINGS 13.82 1.12 +8.82
LOSERS
BURBY BURBERRY GROUP 36.06 -7.90 -17.97
LRN K12 20.280 -3.180 -13.55
CENTA CENTRAL GARDEN & PET 11.4250 -1.4750 -11.43
HOTT HOT TOPIC 8.965 -0.915 -9.26
CENT CENTRAL GARDEN & PET 11.21 -1.10 -8.94
UNFI UNITED NATURAL FOODS 55.24 -5.19 -8.59
CIG ENERGY CO of MINAS 15.770 -1.420 -8.26
PANW PALO ALTO NETWORKS 66.57 -5.18 -7.22
OLBK OLD LINE BANCSHARES 10.200 -0.750 -6.85
MTSI M/A-COM TECH 11.18 -0.79 -6.60
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T H A N K Y O U
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