Weekly Metals Channel Newsletter

Metals Channel
Weekly Metals Newsletter
Weekly DividendRank Metals Toplists & Metals ETF Movers

Metals Prices

Looking at metals prices this week, gold moved higher, with spot prices currently at $1391.86/ounce, up $0.86 (+0.1%) compared to $1391.00 on 05/23. Silver is currently trading at $22.26/ounce, down $0.20 (-0.9%) from $22.46 on 05/23. And turning to copper, the current spot price of $3.29/pound, has copper down $0.01 from $3.30 on 05/23, a week over week loss of -0.3%.

Metals ETF Movers

The Junior Gold Miners ETF (GDXJ) outperformed other Metals ETFs this week, up about 7%. Components of that ETF showing particular strength this week include shares of Rainy River Resources (RR.CA), up about 59.3% and shares of Banro (BAA.CA), up about 29% on the week.

And underperforming other Metals ETFs this week is the Steel ETF (SLX), off about 2.5% this week. Among components of that ETF with the weakest showing for the week were shares of Cliffs Natural Resources (CLF), lower by about 10.1%, and shares of Gerdau (GGB), lower by about 7.9% on the week.

Other ETF standouts this week include the Silver Miners ETF (SIL), outperforming this week with a 6.6% gain. And the Copper Miners ETF (COPX) was an underperformer, falling about 0.1% this week.

 

DividendRank Metals Toplist

At sister site Dividend Channel, we screen through our coverage universe of dividend paying stocks each week, and we look at a variety of data — dividend yield, book value, quarterly earnings — and compare it to the stock’s trading data to come up with certain calculations about profitability and about the stock’s valuation (whether we think it looks ”cheap” or ”expensive”).

History has shown that the bulk of the stock market’s returns are delivered by dividends, and so we pay special attention to dividend history. And of course, only consistently profitable companies can afford to keep paying dividends, so profitability is of critical importance. Dividend investors should be most interested in researching the strongest most profitable companies, that also happen to be trading at an attractive valuation — maybe there is a company-specific reason causing the stock to be ”cheap” or maybe the entire sector is taking a hit, but whatever the reason, we think there is great value in ranking the Metals Channel coverage universe weekly using our proprietary DividendRank formula, and sharing the list of the week’s top ranked metals stocks with our subscribers.

These are the metals stocks our DividendRank system has identified as the top most ”interesting” in the Metals and Mining category … this is meant purely as a research tool to generate ideas that merit further research.

 

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Metals & Mining

DividendRank Symbol Dividend Recent Yield* 
#1 ABX Q 0.80 3.76% 
#2 RNO Q 1.78 13.00% 
#3 FRD Q 0.32 3.29% 
#4 ARLP Q 4.52 6.21% 
#5 NEM Q 1.40 4.08% 
#6 AHGP Q 3.05 4.79% 
#7 SCCO Q 0.80 2.50% 
#8 GORO M 0.36 3.70% 
#9 SCHN Q 0.75 2.92% 
#10 FCX Q 1.25 3.93% 
#11 HNRG Q 0.16 2.04% 
#12 LXFR Q 0.40 2.38% 
#13 AEM Q 0.88 2.79% 
#14 BVN Q 1.20 6.44% 
#15 SVM Q 0.10 3.22% 


*(updated 8 hours, 59 minutes ago) Yield calculations vary and may not be reliable nor comparable. Not all publicly traded securities are ranked; data may be incorrect or out of date. Rankings are for informational purposes only and do not constitute investment advice. Full disclaimer

Weekly Dividend Channel Newsletter

Dividend Channel
Weekly Dividend Newsletter
Weekly DividendRank Toplists
Each week at Dividend Channel, we screen through our coverage universe of dividend paying stocks, and we look at a variety of data — dividend yield, book value, quarterly earnings — and compare it to the stock’s trading data to come up with certain calculations about profitability and about the stock’s valuation (whether we think it looks ”cheap” or ”expensive”).

History has shown that the bulk of the stock market’s returns are delivered by dividends, and so we pay special attention to dividend history. And of course, only consistently profitable companies can afford to keep paying dividends, so profitability is of critical importance. Dividend investors should be most interested in researching the strongest most profitable companies, that also happen to be trading at an attractive valuation — maybe there is a company-specific reason causing the stock to be ”cheap” or maybe the entire sector is taking a hit, but whatever the reason, we think there is great value in ranking our coverage universe weekly using our proprietary DividendRank formula, and sharing those lists with our subscribers, neatly divided into 17 sectors/categories.

These are the stocks our DividendRank system has identified as the top most ”interesting” … this is meant purely as a research tool to generate ideas that merit further research.

 

Business Services & Equipment

DividendRank Symbol Dividend Recent Yield* 
#1 INTX Q 0.80 8.56% 
#2 WU Q 0.50 3.04% 
#3 SPRO Q 0.06 3.75% 
#4 CODI Q 1.44 8.35% 
#5 IRM Q 1.08 2.98% 
#6 HCSG Q 0.67 2.91% 
#7 VSEC Q 0.36 1.07% 
#8 GEO Q 2.00 5.68% 
#9 ROL Q 0.36 1.45% 
#10 EFX Q 0.88 1.43% 
#11 LPS Q 0.40 1.20% 
#12 FIS Q 0.88 1.93% 
#13 RHI Q 0.64 1.84% 
#14 CEB Q 0.90 1.45% 
#15 HSII Q 0.52 3.55% 

 

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Construction

DividendRank Symbol Dividend Recent Yield* 
#1 ELRC Q 0.80 4.55% 
#2 DE Q 2.04 2.33% 
#3 MLR Q 0.56 3.49% 
#4 URS Q 0.84 1.73% 
#5 TTC Q 0.56 1.18% 
#6 TRN Q 0.52 1.26% 
#7 WAB Q 1.60 1.46% 
#8 CAT Q 2.08 2.41% 
#9 AYR Q 0.66 4.21% 
#10 FLR Q 0.64 1.01% 
#11 BZT Q 1.88 5.69% 
#12 RAIL Q 0.24 1.32% 
#13 BKR Q 0.72 2.72% 
#14 LNN Q 0.46 0.57% 
#15 GLDD Q 0.08 1.01% 

Consumer Goods

DividendRank Symbol Dividend Recent Yield* 
#1 CAW Q 0.28 8.03% 
#2 GME Q 1.10 3.29% 
#3 BWL.A Q 0.66 5.20% 
#4 TIS Q 1.40 5.61% 
#5 ALOT Q 0.28 2.65% 
#6 GES Q 0.80 2.73% 
#7 AEO Q 0.50 2.53% 
#8 SSI Q 0.50 2.17% 
#9 SWY Q 0.80 3.44% 
#10 BGS Q 1.16 3.99% 
#11 UG S 0.94 3.62% 
#12 KSS Q 1.40 2.74% 
#13 RAI Q 2.52 5.19% 
#14 WMT Q 1.88 2.49% 
#15 EDUC Q 0.32 8.93% 

Consumer Services

DividendRank Symbol Dividend Recent Yield* 
#1 STON Q 2.38 9.36% 
#2 NAUH Q 0.16 4.33% 
#3 CLCT Q 1.30 9.68% 
#4 HRB Q 0.80 2.70% 
#5 DV S 0.34 1.08% 
#6 TUC Q 0.35 2.50% 
#7 SCI Q 0.28 1.54% 
#8 HI Q 0.78 3.22% 
#9 UTI Q 0.40 3.36% 
#10 LINC Q 0.28 4.03% 
#11 STEI Q 0.18 1.39% 
#12 STRA Q 4.00 7.43% 
#13 BID Q 0.80 2.13% 
#14 BKW Q 0.24 1.29% 
#15 CVG Q 0.24 1.31% 

 

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Energy

DividendRank Symbol Dividend Recent Yield* 
#1 BBEP Q 1.90 9.97% 
#2 ECT Q 1.77 17.46% 
#3 EROC Q 0.88 10.48% 
#4 CHKR Q 2.76 18.43% 
#5 WHZ Q 2.53 19.38% 
#6 SFL Q 1.56 8.94% 
#7 VNR M 2.43 8.62% 
#8 LRE Q 1.93 14.09% 
#9 SDR Q 2.23 17.29% 
#10 QRE Q 1.95 11.42% 
#11 NDRO M 1.16 7.28% 
#12 ARP Q 2.04 8.82% 
#13 PER Q 2.05 14.32% 
#14 CLMT Q 2.72 7.91% 
#15 NGL Q 1.91 6.79% 

Financial

DividendRank Symbol Dividend Recent Yield* 
#1 KFN Q 0.84 7.81% 
#2 TICC Q 1.16 11.59% 
#3 OXLC Q 2.20 12.84% 
#4 VR Q 1.20 3.29% 
#5 SLRC Q 2.40 10.11% 
#6 TCPC Q 1.44 8.90% 
#7 MCC Q 1.44 9.71% 
#8 TCRD Q 1.36 8.85% 
#9 FSC M 1.15 10.89% 
#10 NMFC Q 1.36 8.90% 
#11 MAIN M 1.86 6.28% 
#12 ARCC Q 1.52 8.74% 
#13 TCAP Q 2.16 7.46% 
#14 AI Q 3.50 12.50% 
#15 AXS Q 1.00 2.30% 

Healthcare

DividendRank Symbol Dividend Recent Yield* 
#1 SEM Q 0.40 5.06% 
#2 SPAN Q 0.50 2.61% 
#3 NHC Q 1.28 2.68% 
#4 PMD Q 0.60 5.34% 
#5 HSKA Q 0.40 5.28% 
#6 CAH Q 1.21 2.54% 
#7 BAX Q 1.96 2.73% 
#8 ASEI Q 2.00 3.29% 
#9 IVC Q 0.05 0.33% 
#10 JNJ Q 2.64 3.08% 
#11 ATRI Q 2.24 1.02% 
#12 STJ Q 1.00 2.26% 
#13 OMI Q 0.96 2.75% 
#14 MRK Q 1.72 3.66% 
#15 UTMD Q 0.98 2.09% 

 

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Industrial

DividendRank Symbol Dividend Recent Yield* 
#1 FF Q 0.44 3.12% 
#2 RTN Q 2.20 3.27% 
#3 NOC Q 2.44 2.93% 
#4 MIC Q 2.75 5.09% 
#5 HRS Q 1.48 2.91% 
#6 APD Q 2.84 3.00% 
#7 DD Q 1.80 3.20% 
#8 LLL Q 2.20 2.55% 
#9 CVR Q 0.60 2.26% 
#10 TROX Q 1.00 4.51% 
#11 PDH Q 2.68 19.52% 
#12 PLOW Q 0.83 5.73% 
#13 GD Q 2.24 2.86% 
#14 ACET Q 0.22 1.71% 
#15 UTX Q 2.14 2.24% 

Manufacturing

DividendRank Symbol Dividend Recent Yield* 
#1 CRWS Q 0.32 5.39% 
#2 JCS Q 0.64 6.25% 
#3 IEP Q 4.00 5.30% 
#4 LEG Q 1.16 3.59% 
#5 MGA Q 1.28 1.90% 
#6 BSET Q 0.20 1.44% 
#7 COH Q 1.35 2.32% 
#8 GNTX Q 0.56 2.41% 
#9 F Q 0.40 2.52% 
#10 FLXS Q 0.60 2.63% 
#11 PII Q 1.68 1.77% 
#12 CSCO Q 0.68 2.80% 
#13 HON Q 1.64 2.07% 
#14 ALV Q 2.00 2.55% 
#15 VFC Q 3.48 1.89% 

Materials

DividendRank Symbol Dividend Recent Yield* 
#1 DSWL Q 0.20 7.52% 
#2 UFS Q 2.20 3.03% 
#3 TNH Q 18.72 8.81% 
#4 TUP Q 2.48 3.03% 
#5 PKG Q 1.60 3.23% 
#6 POPE Q 1.80 2.67% 
#7 SMG Q 1.30 2.68% 
#8 NP Q 0.80 2.57% 
#9 DOW Q 1.28 3.68% 
#10 POT Q 1.40 3.30% 
#11 SON Q 1.24 3.52% 
#12 IP Q 1.20 2.57% 
#13 RKT Q 1.20 1.22% 
#14 SWM Q 1.20 2.46% 
#15 RNF Q 2.00 6.10% 

 

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Media

DividendRank Symbol Dividend Recent Yield* 
#1 AM Q 0.60 3.26% 
#2 QUAD Q 1.20 5.11% 
#3 AHC Q 0.32 4.76% 
#4 GCI Q 0.80 3.70% 
#5 MDP Q 1.63 3.93% 
#6 SJR M 1.02 4.46% 
#7 HHS Q 0.34 3.73% 
#8 OMC Q 1.60 2.54% 
#9 JW.A Q 0.96 2.41% 
#10 TWC Q 2.60 2.69% 
#11 MHFI Q 1.12 2.03% 
#12 BLC Q 0.32 2.80% 
#13 CMCSA Q 0.78 1.91% 
#14 CRRC Q 0.84 6.14% 
#15 SALM Q 0.20 2.62% 

Metals & Mining

DividendRank Symbol Dividend Recent Yield* 
#1 ABX Q 0.80 3.76% 
#2 RNO Q 1.78 13.00% 
#3 FRD Q 0.32 3.29% 
#4 ARLP Q 4.52 6.21% 
#5 NEM Q 1.40 4.08% 
#6 AHGP Q 3.05 4.79% 
#7 SCCO Q 0.80 2.50% 
#8 GORO M 0.36 3.70% 
#9 SCHN Q 0.75 2.92% 
#10 FCX Q 1.25 3.93% 
#11 HNRG Q 0.16 2.04% 
#12 LXFR Q 0.40 2.38% 
#13 AEM Q 0.88 2.79% 
#14 BVN Q 1.20 6.44% 
#15 SVM Q 0.10 3.22% 

Real Estate

DividendRank Symbol Dividend Recent Yield* 
#1 EFC Q 3.08 12.71% 
#2 WMC Q 3.80 20.33% 
#3 AMTG Q 2.80 14.28% 
#4 MFA Q 0.88 9.94% 
#5 DX Q 1.16 11.22% 
#6 MTGE Q 3.60 16.66% 
#7 MITT Q 3.20 13.48% 
#8 PMT Q 2.28 10.27% 
#9 ARR M 0.84 15.76% 
#10 NYMT Q 1.08 15.77% 
#11 ARI Q 1.60 9.30% 
#12 JMI M 2.76 17.48% 
#13 NLY Q 1.80 12.97% 
#14 ABR Q 0.48 6.92% 
#15 AGNC Q 5.00 18.76% 

 

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Technology

DividendRank Symbol Dividend Recent Yield* 
#1 NTE Q 0.60 7.84% 
#2 CSPI Q 0.40 4.97% 
#3 SAI Q 0.48 3.15% 
#4 MNDO A 0.24 13.05% 
#5 GA A 0.42 4.96% 
#6 CA Q 1.00 3.63% 
#7 TESS Q 0.72 3.15% 
#8 XRX Q 0.23 2.56% 
#9 XRTX Q 0.30 2.86% 
#10 AMSWA Q 0.40 4.62% 
#11 EVOL Q 0.32 4.81% 
#12 STX Q 1.52 3.49% 
#13 BAH Q 0.40 2.32% 
#14 INTC Q 0.90 3.72% 
#15 MXIM Q 0.96 3.22% 

Transportation

DividendRank Symbol Dividend Recent Yield* 
#1 DCIX Q 1.20 20.45% 
#2 NMM Q 1.77 12.58% 
#3 NM Q 0.24 4.40% 
#4 SSW Q 1.25 5.49% 
#5 TGH Q 1.84 4.83% 
#6 STB M 0.56 8.76% 
#7 FLY Q 0.88 5.43% 
#8 VLCCF Q 0.70 9.77% 
#9 SB Q 0.20 3.79% 
#10 CMRE Q 1.08 6.39% 
#11 TEU Q 0.48 11.80% 
#12 CSX Q 0.60 2.36% 
#13 NSC Q 2.00 2.58% 
#14 UPS Q 2.48 2.88% 
#15 LSTR Q 2.00 3.81% 

Travel & Entertainment

DividendRank Symbol Dividend Recent Yield* 
#1 AERL S 0.20 4.88% 
#2 MCD Q 3.08 3.18% 
#3 EPAX Q 0.24 6.75% 
#4 DRI Q 2.00 3.82% 
#5 LVS Q 1.40 2.39% 
#6 CEC Q 0.96 2.38% 
#7 EAT Q 0.80 2.04% 
#8 FRS Q 0.64 3.80% 
#9 CBRL Q 2.00 2.24% 
#10 IILG Q 0.44 2.03% 
#11 WWE Q 0.48 4.97% 
#12 TXRH Q 0.48 2.02% 
#13 THI Q 1.04 1.93% 
#14 VIAB Q 1.20 1.77% 
#15 CNK Q 0.84 2.81% 

 

SPONSORED AREAThe dividend shocker you won’t see coming…

A huge shake-up is about to rock the dividend stock universe and it could make or break your portfolio in the months ahead. Most investors don’t see it coming and won’t be prepared to deal with the aftershock. But there are steps you can take TODAY to make sure you are NOT the next victim!

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Utilities

DividendRank Symbol Dividend Recent Yield* 
#1 BIP Q 1.72 4.73% 
#2 AVA Q 1.22 4.54% 
#3 NJR Q 1.60 3.51% 
#4 SGU Q 0.33 6.81% 
#5 EGAS M 0.54 5.23% 
#6 SWX Q 1.32 2.78% 
#7 NI Q 1.00 3.48% 
#8 EDE Q 1.00 4.55% 
#9 UGI Q 1.13 2.94% 
#10 GAS Q 1.88 4.45% 
#11 APU Q 3.36 7.12% 
#12 NWE Q 1.52 3.71% 
#13 PPL Q 1.47 4.92% 
#14 APL Q 2.36 6.24% 
#15 ALTV Q 1.08 11.35% 


*(updated 8 hours, 24 minutes ago) Yield calculations vary and may not be reliable nor comparable. Not all publicly traded securities are ranked; data may be incorrect or out of date. Rankings are for informational purposes only and do not constitute investment advice. Full disclaimer

Weekly ETF Channel Newsletter

ETF Channel
Weekly ETF Newsletter
The ETF Week in Review

The Gold Explorers ETF (GLDX) outperformed other ETFs this week, up about 11%. Components of that ETF showing particular strength this week include shares of Seabridge Gold (SA), up about 21% and shares of Rainy River Resources (RR.CA), up about 16.9% on the week.And underperforming other ETFs this week is the iShares FTSE NAREIT Residential Plus Capped Index Fund ETF (REZ), off about 5.1% this week. Among components of that ETF with the weakest showing for the week were shares of Medical Properties Trust (MPW), lower by about 8.5%, and shares of Associated Estates Realty (AEC), lower by about 8.4% on the week.

Other ETF standouts this week include the Junior Gold Miners ETF (GDXJ), outperforming this week with a 9.5% gain. And the iShares FTSE EPRA/NAREIT North America Index Fund (IFNA) was an underperformer, falling about 4.7% this week.

 

 

This Week’s Top 20 ETFs
Ranked By Weighted Average Broker Rating of Underlying ComponentsEach week, ETF Channel forms this rank by first looking at the analyst opinions from the major brokerage houses (which are tallied and averaged) for each individual component of each ETF. Then, for each ETF, those average broker ratings are considered as a weighted average according to the weighting of each of the ETF’s components — this gives the average broker rating for the entire ETF based upon its holdings. The ETF coverage universe is then ranked to give us the weekly top five ETFs by weighted average broker rating of underlying components. These rankings are meant as a tool for investors to generate ideas for further research.

Rank ETF Stars (out of 4)
#1 PXLG – amental Pure Large Growth 3.27 
#2 BJK – Gaming 3.26 
#3 IBB – iShares Nasdaq Biotechnology 3.25 
#4 BIB – Proshares Ultra Nasdaq Biotechnology 3.25 
#5 IEZ – iShares Dow Jones U.S. Oil Equipment & Services 3.23 
#6 OIH – Oil Services 3.22 
#7 JKE – iShares Morningstar Large Growth 3.21 
#8 PGJ – Golden Dragon China 3.19 
#9 MGK – Vanguard Mega Cap Growth 3.19 
#10 EMFN – iShares MSCI Emerging Markets Financials Sector 3.17 
#11 BBH – Biotech 3.17 
#12 GURU – Top Guru Holdings Index 3.17 
#13 IEO – iShares Dow Jones U.S. Oil & Gas Exploration & Production 3.16 
#14 DWAS – DWA SmallCap Technical Leaders 3.15 
#15 TQQQ – Proshares UltraPro QQQ 3.15 
#16 QLD – Proshares Ultra QQQ 3.15 
#17 IXJ – iShares S&P Global Healthcare Sector 3.15 
#18 PWB – Dynamic Large Cap Growth 3.14 
#19 RXL – Proshares Ultra Health Care 3.14 
#20 IWY – iShares Russell Top 200 Growth 3.14 
List of all ranked ETFs »

ETF Channel’s proprietary calculations are based on underlying ETF holdings and Zacks ABR data; powered by Xignite. Not all ETFs are ranked, nor are all underlying holdings. Rankings are for informational purposes only and do not constitute investment advice. Full disclaimer


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Top Yielding ETFs
Rank ETF ETF Category Net Assets Recent Yield* 
#1 iShares FTSE NAREIT Mortgage Plus Capped Index Fund (REM) Real Estate 1.14B 11.06%  
#2 SuperDividend ETF (SDIV) Income 659.19M 7.91%  
#3 KBW High Dividend Yield Financial Portfolio (KBWD) Income 255.57M 7.88%  
#4 Guggenheim S&P Global Dividend Opportunities Index ETF (LVL) Income 70.24M 7.24%  
#5 iShares B – Ca Rated Corporate Bond Fund (QLTC) Corporate Debt 10.64M 6.88%  
#6 CEF Income Composite Portfolio (PCEF) Value 511.50M 6.69%  
#7 Fallen Angel High Yield Bond ETF (ANGL) 11.10M 6.51%  
#8 SPDR Barclays High Yield Bond ETF (JNK) Corporate Debt 11.21B 6.43%  
#9 iShares iBoxx $ High Yield Corporate Bond Fund (HYG) Corporate Debt 15.63B 6.36%  
#10 SPDR S&P International Dividend ETF (DWX) Global 1.45B 6.27%  
#11 (GHYG) Corporate Debt 58.46M 6.25%  
#12 SPDR Barclays Short Term High Yield Bond ETF (SJNK) 1.35B 6.16%  
#13 SPDR Dow Jones International Real Estate ETF (RWX) Real Estate 4.11B 6.16%  
#14 SPDR Wells Fargo Preferred Stock ETF (PSK) Income 420.48M 6.10%  
#15 Preferred Portfolio (PGX) Income 2.67B 6.05%  
#16 Financial Preferred Portfolio (PGF) Income 1.91B 5.94%  
#17 Emerging Markets High Yield Bond ETF (HYEM) 245.51M 5.82%  
#18 iShares Global ex USD High Yield Corporate Bond Fund (HYXU) Corporate Debt 42.92M 5.78%  
#19 iShares S&P U.S. Preferred Stock Index Fund (PFF) Income 12.46B 5.73%  
#20 SPDR S&P Emerging Markets Dividend ETF (EDIV) Emerging Markets 571.39M 5.72%  

Top Yielding SPDRs ETFs
Rank ETF ETF Category Net Assets Recent Yield* 
#1 SPDR Barclays High Yield Bond ETF (JNK) Corporate Debt 11.21B 6.43%  
#2 SPDR S&P International Dividend ETF (DWX) Global 1.45B 6.27%  
#3 SPDR Dow Jones International Real Estate ETF (RWX) Real Estate 4.11B 6.16%  
#4 SPDR Barclays Short Term High Yield Bond ETF (SJNK) 1.35B 6.16%  
#5 SPDR Wells Fargo Preferred Stock ETF (PSK) Income 420.48M 6.10%  
#6 SPDR S&P Emerging Markets Dividend ETF (EDIV) Emerging Markets 571.39M 5.72%  
#7 SPDR Barclays Emerging Markets Local Bond ETF (EBND) Blended Debt 165.23M 4.69%  
#8 SPDR Nuveen S&P High Yield Municipal Bond ETF (HYMB) Municipal Bonds 241.17M 4.62%  
#9 SPDR Barclays Long Term Corporate Bond ETF (LWC) Blended Debt 111.28M 4.52%  
#10 SPDR S&P International Telecommunications Sector ETF (IST) Technology 35.47M 4.52%  
#11 SPDR Nuveen Barclays Build America Bond ETF (BABS) Municipal Bonds 97.66M 4.24%  
#12 SPDR S&P International Utilities Sector ETF (IPU) Utilities 28.99M 4.00%  
#13 SPDR SSgA Income Allocation ETF (INKM) 167.52M 3.84%  
#14 Utilities Select Sector SPDR Fund (XLU) Utilities 5.74B 3.74%  
#15 SPDR Barclays Convertible Securities ETF (CWB) Corporate Debt 1.24B 3.67%  
#16 SPDR BofA Merrill Lynch Emerging Markets Corporate Bond ETF (EMCD) 15.59M 3.55%  
#17 SPDR Dow Jones Global Real Estate ETF (RWO) Real Estate 1.06B 3.47%  
#18 SPDR BofA Merrill Lynch Crossover Corporate Bond ETF (XOVR) 21.09M 3.45%  
#19 SPDR EURO STOXX 50ETF (FEZ) Europe 2.37B 3.43%  
#20 SPDR STOXXEurope 50 ETF (FEU) Europe 64.23M 3.36%  


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Top Yielding iShares ETFs
Rank ETF ETF Category Net Assets Recent Yield* 
#1 iShares FTSE NAREIT Mortgage Plus Capped Index Fund (REM) Real Estate 1.14B 11.06%  
#2 iShares B – Ca Rated Corporate Bond Fund (QLTC) Corporate Debt 10.64M 6.88%  
#3 iShares iBoxx $ High Yield Corporate Bond Fund (HYG) Corporate Debt 15.63B 6.36%  
#4 (GHYG) Corporate Debt 58.46M 6.25%  
#5 iShares Global ex USD High Yield Corporate Bond Fund (HYXU) Corporate Debt 42.92M 5.78%  
#6 iShares S&P U.S. Preferred Stock Index Fund (PFF) Income 12.46B 5.73%  
#7 iShares FTSE EPRA/NAREIT Developed Asia Index Fund (IFAS) Asia 41.67M 5.47%  
#8 iShares Emerging Markets High Yield Bond Fund (EMHY) Emerging Markets 260.30M 5.46%  
#9 iShares FTSE EPRA/NAREIT Developed Real Estate ex-U.S. Index Fund (IFGL) Real Estate 1.91B 5.13%  
#10 iShares S&P Developed ex-U.S. Property Index Fund (WPS) Real Estate 204.67M 4.90%  
#11 iShares Morningstar Multi-Asset Income Index Fund (IYLD) 129.61M 4.86%  
#12 iShares MSCI Australia Index Fund (EWA) Southeast Asia – Australia 2.23B 4.79%  
#13 iShares Dow Jones International Select Dividend Index Fund (IDV) Income 2.09B 4.57%  
#14 iShares MSCI Emerging Markets Small Cap Index Fund (EEMS) Emerging Markets 35.13M 4.54%  
#15 iShares MSCI Spain Capped Index Fund (EWP) Europe 328.02M 4.50%  
#16 iShares 10+ Year Credit Bond Fund (CLY) Corporate Debt 329.08M 4.39%  
#17 iShares J.P. Morgan USD Emerging Markets Bond Fund (EMB) Emerging Markets 5.71B 4.28%  
#18 iShares S&P Global Telecommunications Sector Index Fund (IXP) Technology 500.84M 4.26%  
#19 iShares Asia/Pacific Dividend 30 Index Fund (DVYA) 42.39M 4.13%  
#20 iShares MSCI ACWI ex US Financials Sector Index Fund (AXFN) Global 2.48M 4.11%  

Top Yielding PowerShares ETFs
Rank ETF ETF Category Net Assets Recent Yield* 
#1 KBW High Dividend Yield Financial Portfolio (KBWD) Income 255.57M 7.88%  
#2 CEF Income Composite Portfolio (PCEF) Value 511.50M 6.69%  
#3 Preferred Portfolio (PGX) Income 2.67B 6.05%  
#4 Financial Preferred Portfolio (PGF) Income 1.91B 5.94%  
#5 Build America Bond Portfolio (BAB) Municipal Bonds 1.08B 4.01%  
#6 KBW Premium Yield Equity REIT Portfolio (KBWY) Real Estate 126.82M 3.96%  
#7 Emerging Markets Sovereign Debt Portfolio (PCY) Emerging Markets 2.51B 3.91%  
#8 High Yield Equity Dividend Achievers Portfolio (PEY) Income 320.92M 3.68%  
#9 Senior Loan Portfolio (BKLN) Blended Debt 4.36B 3.66%  
#10 PowerShares S&P 500 High Dividend Portfolio (SPHD) Income 138.25M 3.19%  
#11 Fundamental High Yield Corporate Bond Portfolio (PHB) Corporate Debt 801.14M 3.04%  
#12 Chinese Yuan Dim Sum Bond Portfolio (DSUM) Corporate Debt 80.10M 3.00%  
#13 Insured National Municipal Bond Portfolio (PZA) Municipal Bonds 1.02B 2.85%  
#14 Insured New York Municipal Bond Portfolio (PZT) Municipal Bonds 68.00M 2.75%  
#15 S&P 500 Low Volatility Portfolio (SPLV) Value 4.88B 2.68%  
#16 Insured California Municipal Bond Portfolio (PWZ) Municipal Bonds 79.13M 2.48%  
#17 FTSE RAFI Asia Pacific ex-Japan Portfolio (PAF) Asia 72.31M 2.34%  
#18 International Corporate Bond Portfolio (PICB) Corporate Debt 145.19M 1.93%  
#19 1-30 Laddered Treasury Portfolio (PLW) Government Debt 159.22M 1.85%  
#20 Global Listed Private Equity Portfolio (PSP) Global 410.95M 1.73%  


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Top Yielding WisdomTree ETFs
Rank ETF ETF Category Net Assets Recent Yield* 
#1 WisdomTree Australia Dividend Fund (AUSE) Income 71.30M 3.95%  
#2 WisdomTree Emerging Markets Corporate Bond Fund (EMCB) Corporate Debt 133.50M 3.81%  
#3 WisdomTree Emerging Markets Local Debt Fund (ELD) Blended Debt 2.07B 3.76%  
#4 WisdomTree Equity Income Fund (DHS) Value 738.07M 3.43%  
#5 Emerging Markets SmallCap ETF (DGS) Emerging Markets 1.60B 3.43%  
#6 WisdomTree Dividend ex-Financials Fund (DTN) Income 1.17B 3.15%  
#7 WisdomTree Middle East Dividend Fund (GULF) Middle East 17.71M 3.11%  
#8 WisdomTree Global Corporate Bond Fund (GLCB) Corporate Debt 7.53M 3.05%  
#9 Asia Pacific ex-Japan ETF (AXJL) Asia 97.15M 3.00%  
#10 WisdomTree SmallCap Dividend Fund (DES) Income 650.45M 2.99%  
#11 WisdomTree Global Natural Resources Fund (GNAT) Commodities 24.22M 2.83%  
#12 WisdomTree Global Equity Income Fund (DEW) Global 106.75M 2.80%  
#13 WisdomTree Australia & New Zealand Debt Fund (AUNZ) Government Debt 63.43M 2.72%  
#14 WisdomTree Total Dividend Fund (DTD) Income 329.60M 2.67%  
#15 WisdomTree Emerging Markets Equity Income Fund (DEM) Emerging Markets 5.64B 2.64%  
#16 WisdomTree LargeCap Dividend Fund (DLN) Income 1.69B 2.64%  
#17 WisdomTree MidCap Dividend Fund (DON) Income 637.92M 2.61%  
#18 WisdomTree DEFA Equity Income Fund (DTH) Value 226.84M 2.55%  
#19 WisdomTree International LargeCap Dividend Fund (DOL) Global 223.32M 2.34%  
#20 WisdomTree Global ex-US Real Estate Fund (DRW) Real Estate 121.78M 2.32%  

Top Yielding Vanguard ETFs
Rank ETF ETF Category Net Assets Recent Yield* 
#1 Vanguard Long-Term Corporate Bond ETF (VCLT) Corporate Debt 245.00M 4.54%  
#2 Vanguard Long-Term Bond ETF (BLV) Blended Debt 2.44B 3.85%  
#3 Vanguard Utilities ETF (VPU) Utilities 1.79B 3.39%  
#4 Vanguard Extended Duration Treasury ETF (EDV) Government Debt 495.21M 3.33%  
#5 Vanguard High Dividend Yield ETF (VYM) Income 7.80B 3.12%  
#6 Vanguard Telecommunication Services ETF (VOX) Technology 517.42M 2.85%  
#7 Vanguard Long-Term Government Bond ETF (VGLT) Government Debt 352.23M 2.82%  
#8 Vanguard Intermediate-Term Corporate Bond ETF (VCIT) Corporate Debt 604.98M 2.63%  
#9 Vanguard Mega Cap Value ETF (MGV) Value 720.37M 2.62%  
#10 Vanguard Value ETF (VTV) Value 23.19B 2.55%  
#11 Vanguard Consumer Staples ETF (VDC) Consumer 1.52B 2.43%  
#12 Vanguard Dividend Appreciation ETF (VIG) Income 18.10B 2.13%  
#13 Vanguard Mega Cap ETF (MGC) Growth 861.66M 2.12%  
#14 Vanguard Financials ETF (VFH) Financial 1.40B 2.11%  
#15 Vanguard S&P 500 ETF (VOO) North America 139.54B 2.10%  
#16 Vanguard Small-Cap Value ETF (VBR) Value 9.58B 2.08%  
#17 Vanguard Mid-Cap Value ETF (VOE) Value 3.26B 2.04%  
#18 Vanguard Large-Cap ETF (VV) Growth 7.26B 2.00%  
#19 Vanguard Total Stock Market ETF (VTI) Growth 245.09B 1.97%  
#20 Vanguard Materials ETF (VAW) Industrial 966.17M 1.96%  


*(updated 23 hours, 15 minutes ago) Yield calculations vary and may not be reliable nor comparable; yield may be expressed as SEC 30-day yield, annualized yield based on most recent distribution, trailing twelve month yield, or reported yield. Not all ETFs are ranked; data may be incorrect or out of date. Rankings are for informational purposes only and do not constitute investment advice. Full disclaimer

FOLLOW ETF CHANNEL ON TWITTER FOR ETF UPDATES ALL THROUGHOUT THE WEEK

Key Market Reports and Commentary for Friday 31/05/2013

Morning Markets Report
Prepared on Friday, May 31, 2013

Copyright 2013 INO.com. All Rights Reserved.

Summary
The Dow Future is trending lower 78 points to 15241. The US Dollar Index rose 0.240 points to 83.248. Gold has slid 7.09 dollars to 1412.90. Silver 0.2460 dollars to 22.5940. The Dow Industrials advanced 21.73 points, at 15324.53, while the S&P 500 climbed 6.05 points, last seen at 1654.41. The Nasdaq Composite gained 25.04 points to 3492.56. Streaming charts of these markets are available 24/7 at MarketClub

Blog Postings and Videos
Whack-a-Mole (Japanese Nikkei is the Latest Bubble)
Thursday May 30th

Has the Gold Bull Market Hit a Snag?
Thursday May 30th

Is Apple Setting Up For A Big Rally?
Thursday May 30th

Key Events for Friday

8:30 AM ET. U.S. Weekly Export Sales

Corn, In Metric Tons (previous 446.2K)

Soybeans, In Metric Tons (previous 1.02M)

Wheat, In Metric Tons (previous 952.6K)

8:30 AM ET. April Personal Income & Outlays

Personal Income (expected +0.1%; previous +0.2%)

Personal Spending (expected -0.1%; previous +0.2%)

PCE Price Index Monthly (previous -0.1%)

PCE Price Index Yearly (previous +1%)

PCE Core Price Index Monthly (expected +0%; previous +0%)

PCE Core Price Index Yearly (previous +1.1%)

9:45 AM ET. May ISM-Chicago Business Survey – Chicago PMI

Employment Index (previous 48.7)

New Orders Index (previous 53.2)

Prices Paid Index (prev ious 51)

Purchasing Managers Index (Adjusted) (expected 50.3; previous 49)

Supplier Deliveries Index (previous 47.9)

9:55 AM ET. May Thomson Reuters / University of Michigan Survey of Consumers – final

Sentiment Index End month (expected 84; previous 76.4)

Expectations Index End Month (previous 67.8)

12-Month Inflation Forecast (previous 3.1%)

5-Year Inflation Forecast (previous 2.9%)

Value (Current Period) End Month (previous 89.9)

1:00 PM ET. May Dow Jones Economic Sentiment Indicator

DJ Economic Sentiment Indicator (previous 51.3)

3:00 PM ET. May Agricultural Prices

Farm Prices, M/M (previous -6%)


 

Currencies Snapshot
Symbol Last Change %
U.S $ INDEX 83.248 +0.240 +0.31%
POWERSHARES DB US DOLLAR INDEX 22.5499 -0.1501 -0.67%
US Dollar/Canadian Dollar 1.03388 +0.00393 +0.38%
Euro/US Dollar 1.2989 -0.0050 -0.38%
JAPANESE YEN Jun 2013 0.009959 +0.000052 +0.52%
SWISS FRANC Jun 2013 1.0482 -0.0005 -0.05%

CURRENCIES

The June Dollar closed lower on Thursday and below the 20-day moving average crossing at 83.43 confirming that a short-term top has been posted. 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 bearish signaling that sideways to lower prices are possible near-term. If June extends this week’s decline, the reaction low crossing at 81.78 is the next downside target. Closes above the 10-day moving average crossing at 83.89 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 83.89. Second resistance is last Thursday’s high crossing at 84.59. First support is today’s low crossing at 83.02. Second support is the reaction low crossing at 81.78.

The June Euro closed higher on Th ursday and above the 20-day moving average crossing at 129.69 confirming that a low has been posted. 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 June extends today’s rally, the reaction high crossing at 131.98 is the next upside target. Closes below Wednesday’s low crossing at 128.39 would confirm that a short-term top has been posted. First resistance is today’s high crossing at 130.63. Second resistance is the reaction high crossing at 131.98. First support is Wednesday’s low crossing at 128.38. Second support is April’s low crossing at 127.51.

The June British Pound closed higher on Thursday. 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 oversold but are turning neutral to bullish signaling that sideways to higher p rices are possible near-term. Closes above the 20-day moving average crossing at 1.5284 are needed to confirm that a low has been posted. If June extends this month’s decline, March’s low crossing at 1.4823 is the next downside target. First resistance is the 20-day moving average crossing at 1.5284. Second resistance is May’s high crossing at 1.5603. First support is Wednesday’s low crossing at 1.5006. Second support is March’s low crossing at 1.4823.

The June Swiss Franc closed higher on Thursday and above the 20-day moving average crossing at .10447 confirming that a short-term low has been posted. 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 June extends today’s rally, the reaction high crossing at .10719 is the next upside target. First resistance is today’s high crossing at .10498. Second resistance is the reaction high crossing at .10719. First support is last Wednesday’s low crossing at .10166. Second support is the July 2012 low crossing at .10148.

The June Canadian Dollar closed higher due to short covering on Thursday as it consolidated some of this month’s decline. 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 oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If June extends the decline off May’s high, last May’s low crossing at 95.30 is the next downside target. Closes above the 20-day moving average crossing at 97.99 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 97.02. Second resistance is the 20-day moving average crossing at 97.99. First support is Wednesday’s low crossing at 95.91. Second support is last May’s low crossing at 95.30.

The June Japanese Yen closed hig her on Thursday and above the 20-day moving average crossing at .9890 confirming that a short-term low has been posted. 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 hinting that a low might be in is near. If June extends today’s rally, the reaction high crossing at .10147 is the next upside target. If June renews this year’s decline, monthly support crossing at .9421 is the next downside target. First resistance is today’s high crossing at .9955. Second resistance is the reaction high crossing at .10147. First support is last Wednesday’s low crossing at .9640. Second support is monthly support crossing at .9421.


 

Energy Snapshot
Symbol Last Change %
CRUDE OIL Jul 2013 92.96 -0.65 -0.69%
HEATING OIL Jul 2013 2.8267 -0.0175 -0.62%
NATURAL GAS Jul 2013 4.014 -0.009 -0.22%
RBOB GASOLINE Jul 2013 2.7993 -0.0080 -0.28%
POWERSHARES DYNAMIC ENERGY 50.4396 -0.2104 -0.42%
UNITED STATES GASOLINE 55.9399 +0.2599 +0.46%

ENERGIES

July crude oil closed higher due to short covering on Thursday as it consolidated some of Wednesday’s decline. The high-range close sets the stage for a steady to higher opening when Friday’s night session begins. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 92.21 are needed to confirm that a double top has been posted. If July renews the rally off April’s low, April’s high crossing at 98.22 is the next upside target. First resistance is May’s high crossing at 97.38. Second resistance is April’s high crossing at 98.22. First support is the reaction low crossing at 92.21. Second support is May’s low crossing at 90.32.

July heating oil closed lower on Thursday. 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 bearish hinting that a short-term top might be in or is near. Closes below the reaction low crossing at 281.52 are needed to confirm that a top has been posted. If July renews the rally off April’s low, the 50% retracement level of the February-April decline crossing at 297.46 is the next upside target. First resistance is the 50% retracement level of the February-April decline crossing at 297.46. Second resistance is 62% retracement level of the February-April decline crossing at 303.27. First support is the reaction low crossing at 281.52. Second support is May’s low crossing at 275.78.

July unleaded gas closed higher due to short covering on Thursday. 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 to bearish signaling that sideways to lower prices are possible near-term. If July extends last week’s declin e, May’s low crossing at 267.50 is the next downside target. If July renews the rally off May’s low, the 50% retracement level of the February-May decline crossing at 292.76 is the next upside target. First resistance is May’s high crossing at 290.54. Second resistance is 50% retracement level of the February-May decline crossing at 292.76. First support is today’s low crossing at 275.21. Second support is May’s low crossing at 267.50.

July Henry natural gas closed lower on Thursday and below the 20-day moving average crossing at 4.105 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. If July extends this week’s decline, May’s low crossing at 3.933 is the next downside target. Closes above the 10-day moving average crossing at 4.172 would temper the near-term bearish outlook. First resistance is t he 10-day moving average crossing at 4.172. Second resistance is May’s high crossing at 4.499. First support is today’s low crossing at 4.011. Second support is May’s low crossing at 3.933.


 

Food Snapshot
Symbol Last Change %
COCOA Jul 2013 2217 +6 +0.27%
COFFEE Jul 2013 127.10 +1.25 +0.99%
ORANGE JUICE-A Jul 2013 153.75 +0.15 +0.10%
IPATH DJ-UBS SUGAR TRUST 59.7400 +0.3300 +0.55%
IPATH DJ-UBS SOFTS TRUST 46.9401 -0.3099 -0.66%

FOOD & FIBER

July coffee closed lower on Thursday as it extends this month’s decline. The low-range close set the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the aforementioned decline, weekly support crossing at 11.33 is the next downside target. Closes above the 20-day moving average crossing at 13.70 would confirm that a short-term low has been posted.

July cocoa closed slightly higher on Thursday as it consolidates some of this week’s decline. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this month’s decline, the 75% retracement level of the March-May rally crossing at 21.43 is July’s next downside target. Closes above the 20-day moving average crossing at 23.20 are needed to confirm that a low has been posted.

July sugar closed slightly higher on Thursday. However, the low-range close set the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible. If July extends this year’s decline, the 87% retracement level of the 2010-2011-rally crossing at 16.29 is the next downside target. Closes above the 20-day moving average crossing at 17.09 are needed to confirm that a short-term low has been posted.

July cotton closed lower on Thursday as it extends this month’s decline. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If July extends this month’s decline, the 75% retracement level of the November-March rally crossing at 77.69 is the next downside target. Closes above the 20-day moving average crossing at 84.95 are needed to confirm that a low has been posted.


 

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Grains Snapshot
Symbol Last Change %
CORN Dec 2013 565.00 +2.25 +0.40%
OATS Jul 2013 368.0 +5.0 +1.36%
WHEAT Jul 2013 695.00 -3.75 -0.54%
TEUCRIUM CORN 42.43 -0.01 -0.02%
IPATH DJ-UBS GRAINS TRUST 51.96 +0.71 +1.38%
ELEMENTS MLCX GRAINS INDEX TRUST 6.7701 +0.0401 +0.58%
SOYBEANS Jul 2013 1510.75 +15.00 +1.00%
SOYBEAN (MINI) Nov 2013 1289.25 +0.75 +0.06%
SOYBEAN MEAL Jul 2013 446.1 +5.3 +1.21%
TEUCRIUM SOYBEAN 24.4999 -0.1756 -0.71%

GRAINS

July Corn closed down 10 3/4-cents at 6.54 1/4.

July corn closed lower on Thursday as it consolidated some of the rally off last Tuesday’s low. 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 July extends the rally off April’s low, the April 1st gap crossing at 6.76 is the next upside target. Closes below the reaction low crossing at 6.32 1/2 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 6.69. Second resistance is the April 1st gap crossing at 7.76. First support is the reaction low crossing at 6.32 1/2. Second support is the reaction low crossing at 6.25.

July wheat closed down 4-cents at 6.98 3/4.

July wheat closed lower on Thursday. 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 to bullish hinting that a low might be in or is near. Closes above the reaction high crossing at 7.09 are needed to confirm that a low has been posted. If July renews this month’s decline, April’s low crossing at 6.64 3/4 is the next downside target. First resistance is the reaction high crossing at 7.09. Second resistance is April’s high crossing at 7.36 3/4. First support is last Tuesday’s low crossing at 6.74. Second support is April’s low crossing at 6.64 3/4.

July Kansas City Wheat closed down 1 3/4-cents at 7.46.

July Kansas City wheat closed lower on Thursday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving a verage crossing at 7.55 1/4 are needed to confirm that a low has been posted. If July renews this month’s decline, April’s low crossing at 7.16 1/2 is the next downside target. First resistance is the 20-day moving average crossing at 7.55 1/4. Second resistance is April’s high crossing at 7.96 3/4. First support is last Monday’s low crossing at 7.32 1/2. Second support is April’s low crossing at 7.16 1/2.

July Minneapolis wheat closed down a 1/4-cent at 8.15 1/2.

July Minneapolis wheat closed fractionally lower on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July renews the rally off April’s low, the 38% retracement level of the July-April decline crossing at 8.53 1/4 is the next upside target. Closes below the reaction low crossing at 8.00 1/4 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is April’s high crossing at 8.34 1/2. Second support is the 38% retracement level of the July-April decline crossing at 8.53 1/4. First support is the reaction low crossing at 8.00 1/4. Second support is April’s low crossing at 7.60.

SOYBEAN COMPLEX

July soybeans closed down 6-cents at 14.95 3/4.

July soybeans closed lower on Thursday. 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 bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 14.37 1/2 are needed to confirm that a short-term top has been posted. If July extends the rally off April’s low, the 87% retracement level of the aforementioned decline crossing at 15.72 is the next upside target. First resistance is last Thursday’s high crossing at 15.46 3/4. Second resistanc e is the 87% retracement level of the aforementioned decline crossing at 15.72. First support is the 10-day moving average crossing at 14.79 1/2. Second support is the 20-day moving average crossing at 14.37 1/2.

July soybean meal closed down $3.50 at $440.80.

July soybean meal closed lower on Thursday as it consolidated some of 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 neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 421.40 are needed to confirm that a short-term top has been posted. If July extends the rally off April’s low, the 87% retracement level of the September-January decline crossing at 456.10 is the next upside target. First resistance is last Thursday’s high crossing at 451.40. Second resistance is the 87% retracement level of the September-January decline crossing at 456. 10. First support is the 10-day moving average crossing at 434.70. Second support is the 20-day moving average crossing at 421.40.

July soybean oil closed down 5 pts. at 48.58.

July soybean closed lower on Thursday and the mid-range close sets the stage for a steady opening when Friday’s night session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If July extends this week’s decline, April’s low crossing at 48.08 is the next downside target. Closes above the reaction high crossing at 50.23 are needed to confirm that a low has been posted. First resistance is the reaction high crossing at 50.23. Second resistance is March’s high crossing at 51.03. First support is today’s low crossing at 48.24. Second support is April’s low crossing at 48.08.


 

Indexes Snapshot
Symbol Last Change %
DJ 30 INDUSTRIALS 15324.53 +21.73 +0.14%
NASDAQ COMPOSITE INDEX (COMBINED) 3492.56 +25.04 +0.72%
S&P 500 CASH 1654.41 +6.05 +0.37%
SPDR S&P 500 165.89 +0.67 +0.40%
QQQQ VOLATILITY INDEX 13.84 -0.08 -0.58%
iShares RUSSELL 2000 INDEX 98.890 +0.660 +0.67%

U.S. STOCK INDEXES

The June NASDAQ 100 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 signaling that sideways to higher prices are possible near-term. If June extends this year’s rally, weekly resistance crossing at 3084.00 is the next upside target. Closes below the 20-day moving average crossing at 2983.70 are needed to confirm that a short-term top has been posted. First resistance is last Wednesday’s high crossing at 3053.50. Second resistance is weekly resistance crossing at 3084.00. First support is the 20-day moving average crossing at 2983.70. Second support is May’s low crossing at 2862.24.

The June S&P 500 closed higher on Thursday as it consolidates some of the declin e off last Wednesday’s high. 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 to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1640.43 are needed to confirm that a short-term top has been posted. If June renews this year’s rally into uncharted territory, upside targets will be hard to project. First resistance is last Wednesday’s high crossing at 1685.50. Second resistance is will be hard to project with June extending this year’s rally into uncharted territory. First support is the 20-day moving average crossing at 1640.43. Second support is May’s low crossing at 1576.20.

The Dow closed higher on Thursday. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. The high-range close sets the stage for a steady to higher opening on Friday. If the Dow renews the rally off November’s low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 15,201 would confirm that a short-term top has been posted. First resistance is last Wednesday’s high crossing at 15,542. Second resistance will be hard to project with the Dow trading into uncharted territory. First support is the 20-day moving average crossing at 15,201. Second support is May’s low crossing at 14,687.


 

Interest Snapshot
Symbol Last Change %
T-BONDS Sep 2013 141.15625 +0.65625 +0.47%
iShares FLOATING RATE NOTE 50.685 -0.005 -0.01%
5 YEAR T-NOTES Sep 2013 122.757813 +0.164063 +0.13%
ULTRA T-BONDS Sep 2013 153.59375 +1.00000 +0.65%
POWERSHARES SENIOR LOAN PORTF 25.10 -0.04 -0.16%

INTEREST RATES

June T-bonds closed down 2/32’s at 141-18.

June T-bonds closed lower on Thursday. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month’s decline, weekly support crossing at 139-14 is the next downside target. Closes above the 20-day moving average crossing at 144-18 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 143-03. Second resistance is the 20-day moving average crossing at 144-18. First support is Wednesday’s low crossing at 139-29. Second support is weekly support crossing at 139-14.


 

Livestock Snapshot
Symbol Last Change %
FEEDER CATTLE Aug 2013 144.025 -0.150 -0.10%
LEAN HOGS Jul 2013 93.475 +0.325 +0.35%
LIVE CATTLE Aug 2013 119.375 +0.325 +0.27%
IPATH DJ-UBS LIVESTOCK TRUST SUB 26.0610 +0.1010 +0.39%

LIVESTOCK

June hogs closed up $0.60 at $95.32.

June hogs closed higher on Thursday as it extends the rally off March’s low. 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 June extends the rally off March’s low, the 62% retracement level of the December-March decline crossing at 96.18 is the next upside target. Closes below the 20-day moving average crossing at 92.65 would confirm that a short-term top has been posted. First resistance is today’s high crossing at 95.85. Second resistance is the 62% retracement level of the December-March decline crossing at 96.18. First support is the 20-day moving average crossing at 92.65. Second support the reacti on low crossing at 90.80.

June cattle closed down $1.02 at 120.35.

June cattle posted a key reversal down on Thursday. 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 bullish signaling that sideways to higher prices are possible near-term. If June extends this week’s rally, May’s high crossing at 124.00 is the next upside target. If June renews this year’s decline, weekly support crossing at 115.44 is the next downside target. First resistance is today’s high crossing at 124.00. Second resistance is May’s high crossing at 124.00. First support is May’s low crossing at 118.80. Second support is weekly support crossing at 115.44.

August feeder cattle closed down $1.45 at $144.17.

August Feeder cattle closed lower on Thursday and 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 bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 145.66 are needed to confirm that a low has been posted. If August renews this year’s decline, weekly support crossing at 132.45 is the next downside target. First resistance is the 20-day moving average crossing at 145.66. Second resistance is the reaction high crossing at 149.80. First support is May’s low crossing at 142.50. Second support is weekly support crossing at 132.45.


 

Metals Snapshot
Symbol Last Change %
GOLD Aug 2013 1412.1 +0.1 +0.01%
SPDR GOLD SHARES 136.65 +1.82 +1.33%
SILVER Jul 2013 22.540 -0.150 -0.66%
PALLADIUM Sep 2013 748.60 -11.95 -1.57%
DIREXION DAILY GOLD MINERS BEA 75.12 -14.78 -19.71%
POWERSHARES DB PRECIOUS METALS 46.6868 +0.6268 +1.34%

PRECIOUS METALS

June gold closed higher on Thursday renewing the rally off May’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 a low might be in or is near. Closes above the 20-day moving average crossing at 1416.20 are needed to confirm that a short-term low has been posted. If June renews this month’s decline, April’s low crossing at 1321.50 is the next downside target. First resistance is the 20-day moving average crossing at 1416.20. Second resistance is May’s high crossing at 1487.20. First support is May’s low crossing at 1336.30. Second support is April’s low crossing at 1321.50.

July silver closed higher on Thursday as it extends this week’s trading range. The mid-range close set the stage for a steady opening when Frid ay’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 23.083 are needed to confirm that a low has been posted. If July renews this month’s decline, the 75% retracement level of the 2008-2011-rally crossing at 19.316 is the next downside target. First resistance is the 20-day moving average crossing at 23.083. Second resistance is the reaction high crossing at 24.835. First support is May’s low crossing at 20.250. Second support is monthly support crossing at 18.756.

July copper closed higher due to short covering on Thursday. 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 to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 326.70 are needed to confirm that a short-term top has been posted. If Jul y renews the rally off May’s low, April’s high crossing at 345.95 is the next upside target. First resistance is last Wednesday’s high crossing at 341.80. Second resistance is April’s high crossing at 345.95. First support is the reaction low crossing at 322.40. Second support is May’s low crossing at 304.65.


 

Top Stocks
# symbol name last net % volume score triangles
1. CLWR CLEARWIRE 4.48 +1.00 +22.22% 97,205,058 +100    Entry Signal
2. NVE NV ENERGY 23.61 +4.33 +18.33% 90,295,715 +90    Entry Signal
3. CSCO CISCO SYSTEMS 24.41 +0.29 +1.19% 42,023,140 +90    Entry Signal
4. SFD SMITHFIELD FOODS 32.715 -0.635 -1.94% 23,569,096 +90    Entry Signal
5. ZNGA ZYNGA 3.42 0.00 0.00% 16,937,381 +90    Entry Signal
6. PG PROCTER & GAMBLE 79.11 +0.21 +0.27% 13,764,122 +90    Entry Signal
7. HMA HEALTH MGMT 12.975 +0.725 +5.59% 12,977,823 +90    Entry Signal
8. MRK MERCK 47.05 +0.18 +0.38% 10,794,197 +90    Entry Signal
9. GRPN GROUPON INC 7.4801 +0.0701 +0.94% 10,186,812 +100    Entry Signal
10. STEI STEWART ENTERPRISES 13.02 +0.05 +0.38% 9,582,860 +100    Entry Signal
Top Futures
# symbol name last net % volume score triangles
1. S.N13 SOYBEANS Jul 2013 1495.75 -6.00 -0.40% 52,524 +100    Entry Signal
2. SM.N13 SOYBEAN MEAL Jul 2013 440.8 -3.5 -0.79% 28,828 +75    Entry Signal
3. CLT.M13.E CRUDE OIL (TAS) Jun 2013 0.00 -0.01 -0.50% 25,418 +75    Entry Signal
4. CLT.N13.E CRUDE OIL (TAS) Jul 2013 0.00 -0.01 -0.25% 9,141 +90    Entry Signal
5. ZS.N13.E SOYBEANS Jul 2013 1510.75 +15.00 +1.00% 8,471 +100    Entry Signal
6. SM.Q13 SOYBEAN MEAL Aug 2013 420.3 -1.6 -0.38% 6,033 +90    Entry Signal
7. NG.G14 NATURAL GAS Feb 2014 4.344 -0.138 -3.10% 4,858 +75    Entry Signal
8. ZM.Z13.E SOYBEAN MEAL Dec 2013 381.1 +3.3 +0.87% 2,127 +100    Entry Signal
9. OJ.N13.E ORANGE JUICE-A Jul 2013 153.75 +0.15 +0.10% 1,802 +100    Entry Signal
10. RPT.M13.E US TREASURY DTCC GCF REPO INDEX Jun 2013 2497.625 0.000 0.00% 923 +90    Entry Signal

CWS Market Review – May 31, 2013

CWS Market Review

May 31, 2013

“As time goes on, I get more and more convinced that the right method in investment is 
to put fairly large sums into enterprises which one thinks one knows something about and 
ithe management of which one thoroughly believes.” – John Maynard Keynes

Last Wednesday, May 22nd, the stock market experienced a very rare event. The indexes jumped up early in the day, hit a new intra-day high, then turned around and closed lower by more than 1%. That may not sound like much, but it totally freaked traders out, and they’re an irritable crew to begin with.

Why did this put everyone on edge? Because the last two times this happened were just before the market crashes of 2000 and 2007. Despite the big intra-day swing, the stock market is still holding up well, and I’m surprised at the number of folks who are convinced that we’re headed for an imminent downturn. Let’s look at the evidence.

Is a Market Crash Imminent?

As usual, I’m not going to bother with trying to predict what the herd will do. As investors, we need to accept reality on reality’s terms. The fact is that the bears  have not been treated well by this market. As long as the S&P 500 stays above its 50-day moving average (right now about 1,598), I think we’re mostly safe. As always, I urge all investors to take a conservative approach and focus on high-quality stocks like that ones you see on our Buy List.

Speaking of our Buy List, it’s been red hot lately. I probably shouldn’t mention it, as it might jinx us, but our Buy List has finally caught up to the overall market. Since April 18th, our Buy List is up 10.43%, which is ahead of the S&P 500’s 7.32%. Ten of our Buy List stocks are up more than 20% for the year, and Microsoft (MSFT) is up 31% this year.

Ford Motor  (F), in particular, has been a rock star for us. Did anyone else notice that Ford finally broke $16 per share on Thursday? Good, me too. As impressive as Ford’s run has been, the stock is far from expensive. Ford currently trades at less than 10 times next year’s earnings estimate. I’m looking forward to another good earnings report in late July. This week, I’m raising my Buy Below on Ford to $18 per share.

Several of our financial stocks have also been performing very well. On Thursday, both of our large banks, JPMorgan Chase (JPM) and Well Fargo  (WFC), hit new 52-week highs. I’ve been cautious on raising my Buy Below prices, but this week, I’m going to raise my Buy Below on WFC to $46 per share. Last week, I mentioned that Nicholas Financial (NICK) looked especially attractive below $13.70. The sale didn’t last long. On Thursday, NICK jumped up to $14.82. I’ve also been very impressed with AFLAC  (AFL) recently. The stock came close to breaking $57 on Thursday. I still think AFL is a bargain.

What Do Higher Long-Term Rates Mean for Us?

At the end of September 2012, analysts on Wall Street were expecting 2013 earnings for the S&P 500 of $114.96. Today, the consensus is down to $109.53, yet the S&P 500 has gained more than 14% over that time. What’s changed is that the earnings multiple has slowly expanded. One dollar in earnings, or expected earnings, is worth more than that same dollar a few months ago. Every day, it seems like investors become less and less nervous. Interestingly, this week we learned that consumer confidence rose to a five-year high. (Just once, I’d love to see a rise in consumer confidence reported as a drop in consumer humility.)

The odd aspect of this rally is how gradual it’s been. It’s also as if we go up by a small amount each day. The S&P 500 has only had one 2% down day all year. But the interesting action lately hasn’t been in the stock market — it’s been in the bond market. After hearing warnings of this for months, long-term interest rates have finally started to rise. On Tuesday, the yields for the middle part and long end of the yield curve had their highest rates in more than a year. Bear in mind, of course, that interest rates are still very low. Uncle Sam can borrow for five years at a measly 1%. At the beginning of May, the five-year fetched 0.65%.

The move in the bond market is being mirrored by a similar move in the stock market. The difference is that stocks aren’t going down; they’re going up, but the more defensive names are trailing. Remember last week, when I talked about the Garbage Stock Rally? This is how it’s playing out.

We can really see evidence of this by looking at the weakness of utility stocks. Investors like to buy boring utilities, so they’re protected from sudden downdrafts. Yet we’ve had a bull market, and utes have gotten clobbered anyway. From April 29th to May 30th, the Utilities Sector ETF(XLU) dropped nearly 9%. What’s happening is that investors are choosing growth over dividends. Interestingly, Warren Buffett just made a big purchase in the utility sector. Berkshire Hathaway’s MidAmerican Energy said it’s buying NV Energy for $5.6 billion.

Whenever bonds start to fall, there’s often a fear that we’re entering a debt crisis. This time around, these fears are simply nonsense. For one, stocks are rallying from the down turn in bonds. While this rally has seen cyclicals do well (like Ford), the real strength has come from financials (as I mentioned earlier). Twenty months ago, the Financial Sector ETF (XLF) dropped below $11. On Thursday, it closed at $20.17. Last December, I tweeted, “I still think buying XLF, sitting back and cracking a beer will be a tough strategy to beat in 2013.” Indeed it has. The XLF is up 23% on the year.

This leads me to think that higher long-term rates signal growing optimism for the economy. The U.S. dollar has also been doing well. Remember that financial markets tend to lead the economy by a few months, so the strength for the economy hasn’t shown up just yet.

For now, I encourage investors not to be rattled by any short-term moves. We’ve had a long stretch of low volatility, and those don’t last forever. Get used to seeing higher interest rates. Mortgage rates have been climbing as well. I don’t believe the Fed is close to shutting off the stimulus. This is a very good time for stocks. Investors should focus on quality and be careful not to chase any stocks. Wait for good stocks to come to you. One stock that looks especially good right now is Oracle (ORCL). The company is due to report earnings in about three weeks. I’m raising my Buy Below on Oracle to $38 per share.

Before I go, I want to make two more adjustments to our Buy Below prices. I’m raising CA Technologies‘ (CA) Buy Below to $29, and I’m dropping Cognizant (CTSH) down to $70 per share.

That’s all for now. There are a few important economic reports next week. On Monday, we’ll get the ISM report for May. The ISM has come in at 49.9 or better for the last 46 months in a row. Let’s see if the streak stays alive. For the latter half of the week, the focus will be on jobs. On Wednesday, ADP will release its monthly jobs report. The initial claims report comes out on Thursday. Then the all-important May jobs report comes out on Friday morning. Be sure to keep checking the blog for daily updates. I’ll have more market analysis for you in the next issue ofCWS Market Review!

– Eddy

Named by CNN/Money as the best buy-and-hold blogger, Eddy Elfenbein is the editor of Crossing Wall Street. His free Buy List has beaten the S&P 500 for the last six years in a row. This email was sent by Eddy Elfenbein through Crossing Wall Street.

2223 Ontario Road NW, Washington, DC 20009, USA

Key Market Reports and Commentary for Thursday 30/05/2013

Morning Markets Report
Prepared on Thursday, May 30, 2013

Copyright 2013 INO.com. All Rights Reserved.

Summary
The Dow Future has climbed 44 points to 15334. The US Dollar Index retreated 0.053 points to 83.572. Gold has advanced 5.09 dollars to 1400.32. Silver 0.1390 dollars to 22.6390. The Dow Industrials retreated 106.59 points, at 15302.80, while the S&P 500 moved down 11.70 points, last seen at 1648.36. The Nasdaq Composite trended lower by 18.55 points to 3470.34. Streaming charts of these markets are available 24/7 at MarketClub

Blog Postings and Videos
Is Apple Setting Up For A Big Rally?
Thursday May 30th

Seeking a softer retirement landing
Wednesday May 29th

Will Yahoo’s Billion Dollar Bet Sink The Company?
Wednesday May 29th

Key Events for Thursday

8:30 AM ET. Unemployment Insurance Weekly Claims Report – Initial Claims

Weekly Jobless Claims (expected 340K; previous 340K)

Weekly Jobless Claims Net Change (previous -23K)

Cont Jobless Claims (prior week) (previous 2912000)

Cont Jobless Claims Net Chg (prior week) (previous -112K)

8:30 AM ET. 1st Quarter Preliminary Corporate Profits

8:30 AM ET. 1st Quarter 2nd estimate GDP

GDP (expected +2.4%; previous +2.5%)

Chain-Weighted Price Index (expected +1.2%; previous +1.2%)

Corporate Profits (previous +1.8%)

PCE Price Index (previous +0.9%)

Purchase Price Index (previous +1.1%)

Real Final Sales (previous +1.5%)

Core PCE Price Index (Ex Food/Energy) (pr evious +1.2%)

Personal Consumption (previous +3.2%)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. April Pending Home Sales Index

Current (previous 105.7)

MoM Pct Change (Current Period) (expected +1.7%; previous +1.5%)

YoY Pct Change (Current Period) (previous +7%)

10:00 AM ET. DJ-BTMU U.S. Business Barometer

DJ-BTMU Business Barometer (previous -0.5%)

DJ-BTMU Business Barometer (52 Wk) (previous +0.9%)

10:30 AM ET. EIA Weekly Natural Gas Storage Report

Total Working Gas in Storage (expected 2141B; previous 2053B)

Total Working Gas in Storage (Net Change) (expected +88B; previous +89B)

11:00 AM ET. EIA Weekly Petroleum Status Report

Crude Oil Stocks (previous 394.55M)

Crude Oil Stocks (Net Change) (exp ected -0.4M; previous -0.34M)

Gasoline Stocks (previous 220.68M)

Gasoline Stocks (Net Change) (expected -0.2M; previous +3.02M)

Distillate Stocks (previous 118.81M)

Distillate Stocks (Net Change) (expected +0.2M; previous -1.05M)

Refinery Usage (expected 87.7%; previous 87.3%)

Total Products Supplied (previous 18.85M)

Total Products Supplied (Net Change) (previous +0.33M)

4:30 PM ET. Federal Discount Window Borrowings

Primary Credit Borrowings (previous 16M)

Primary Credit Borrowings W/E Daily Avg. (previous 23M)

Primary Dealer Borrowings

Primary Dealer Borrowings W/E Daily Avg.

Discount Window Borrowings (previous 67M)

Discount Window Borrowings W/E Daily Avg. (previous 69M)

4:30 PM ET. Money Stock Measures

4:30 PM ET. Foreign Central Bank Holdings

Foreign US Debt Holdings (previous 3.31T)

US Foreign Agency Holdings (previous 306.84B)

Foreign Treasury Holdings (previous 2.97T)


 

Currencies Snapshot
Symbol Last Change %
U.S $ INDEX 83.572 -0.053 -0.07%
POWERSHARES DB US DOLLAR INDEX 22.7000 -0.1700 -0.75%
US Dollar/Canadian Dollar 1.03540 +0.00080 +0.08%
Euro/US Dollar 1.29820 +0.00208 +0.16%
JAPANESE YEN Jun 2013 0.009847 -0.000039 -0.39%
SWISS FRANC Jun 2013 1.0398 +0.0016 +0.15%

CURRENCIES

The June Dollar was lower overnight and challenging support marked by the 20-day moving average crossing at 83.45. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 83.45 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If June renews the rally off May’s low, the July 2012 high crossing at 85.29 is the next upside target. First resistance is last Thursday’s high crossing at 84.59. Second resistance is the July 2012 high crossing at 85.29. First support is the 20-day moving average crossing at 83.45. Second support is the reaction low crossing at 83.04.

The June Euro was higher overnight and trading above the 20-day moving average. Stochastics and the RSI are b ullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 129.66 are needed to confirm that a low has been posted. If June renews this month’s decline, April’s low crossing at 127.51 is the next downside target. First resistance is the 20-day moving average crossing at 129.66. Second resistance is the reaction high crossing at 131.98. First support is the reaction low crossing at 127.98. Second support is April’s low crossing at 127.51.

The June British Pound was higher overnight. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month’s decline, April’s low crossing at 1.5027 is the next downside target. Closes above the 20-day moving average crossing at 1.5280 would confirm that the short-term top has been posted. First resistance is the 20-day moving average crossing at 1.5280. Second resistance is May’s high cr ossing at 1.5603. First support is Wednesday’s low crossing at 1.5006. Second support is April’s low crossing at 1.5027.

The June Swiss Franc was higher overnight. Stochastics and the RSI are bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at .10444 would confirm that a low has been posted. If June renews this month’s decline, last July’s low crossing at .10148 is the next downside target. First resistance is the 20-day moving average crossing at .10444. Second resistance is the reaction high crossing at .10719. First support was last Wednesday’s low crossing at .10166. Second support is last July’s low crossing at .10148.

The June Canadian Dollar was steady to slightly higher overnight due to short covering as it consolidated some of this month’s decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this year’s decline, last May’s low crossing at 95.30 is the next downside target. Closes above the 20-day moving average crossing at 97.96 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 96.96. Second resistance is the 20-day moving average crossing at 97.96. First support is Wednesday’s low crossing at 95.91. Second support is last May’s low crossing at 95.30.

The June Japanese Yen was lower overnight as it consolidates below the 20-day moving average. Stochastics and the RSI are bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at .9886 are needed to confirm that a low has been posted. If June resumes this year’s decline, monthly support crossing at .9421 is the next downside target. First resistance is the 20-day moving average crossing at .9886. Second resistance is the reaction high crossing at .10147. First support is last Wednesday’s low crossing at .9640. Second support is monthly support crossing at .9421.

 


 

Energy Snapshot
Symbol Last Change %
CRUDE OIL Jul 2013 92.51 -0.62 -0.67%
HEATING OIL Jul 2013 2.8407 -0.0241 -0.84%
NATURAL GAS Jul 2013 4.160 -0.024 -0.57%
RBOB GASOLINE Jul 2013 2.7792 -0.0188 -0.67%
POWERSHARES DYNAMIC ENERGY 50.7600 -0.1800 -0.36%
UNITED STATES GASOLINE 56.408 +0.138 +0.25%

ENERGIES

July crude oil was lower overnight and poised to test the lower boundary of this month’s trading range crossing at 92.21. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 92.21 would confirm that a double top has been posted while opening the door for additional weakness near-term. Closes above the 20-day moving average crossing at 95.24 would signal that a short-term low has been posted. If July renews the rally off April’s low, April’s high crossing at 98.22 is the next upside target. First resistance is April’s high crossing at 98.22. Second resistance is February’s high crossing at 99.77. First support is the reaction low crossing at 92.21. Second support is May’s low crossing at 90.32.

July heating oil was lower overnight. Stochastics a nd the RSI are neutral signaling that sideways trading is possible near-term. Closes below the reaction low crossing at 281.52 are needed to confirm that a top has been posted. If July extends Tuesday’s rally, May’s high crossing at 295.15 then the 50% retracement level of the February-April decline crossing at 297.46 are the next upside targets. First resistance is May’s high crossing at 295.15. Second resistance is the 50% retracement level of the February-April decline crossing at 297.46. First support is the reaction low crossing at 281.52. Second support is May’s low crossing at 275.78.

July unleaded gas was lower overnight. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If July extends this month’s decline, the reaction low crossing at 275.68 is the next downside target. Closes above Tuesday’s high crossing at 287.17 would confirm that a short-term low has been posted. First resistance is Tuesday’s high crossing at 287.1 7. Second resistance is May’s high crossing at 290.54. First support is the reaction low crossing at 275.68. Second support is May’s low crossing at 267.50.

July Henry natural gas was slightly lower overnight as it extends the decline off Tuesday’s high. Stochastics and the RSI are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 4.112 would confirm that a short-term low has been posted and would open the door for additional weakness near-term. If July renews the rally off May’s low, May’s high crossing at 4.499 is the next upside target. First resistance is Tuesday’s high crossing at 4.358. Second resistance is May’s high crossing at 4.499. First support is the 20-day moving average crossing at 4.112. Second support is May’s low crossing at 3.933.


 

Food Snapshot
Symbol Last Change %
COCOA Jul 2013 2220 +10 +0.45%
COFFEE Jul 2013 127.40 -0.20 -0.16%
ORANGE JUICE-A Jul 2013 153.60 +5.75 +3.73%
IPATH DJ-UBS SUGAR TRUST 59.37 -0.48 -0.81%
IPATH DJ-UBS SOFTS TRUST 46.9401 -0.3099 -0.66%

FOOD & FIBER

SOFTS: July sugar closed down 6 points at 16.66 cents today. Prices closed nearer the session low. Prices are hovering near a 2.5-year low. The sugar bears have the solid overall near-term technical advantage. Prices are in a five-month-old downtrend on the daily bar chart. There are no early clues of a market low being close at hand.

July coffee closed up 150 points at 127.95 cents today. Prices closed near the session high today and saw short covering in a bear market. The weaker U.S. dollar index was also bullish for coffee today. The coffee bears still have the solid near-term technical advantage.

July cocoa closed down $1 at $2,204 a ton today. Prices closed near mid-range today and hit a fresh seven-week low. The cocoa bears have the near-term technical advantage. A four-week-old downtrend is in place on the daily bar chart.

July cotton closed down 69 points at 80.73 cents today. Prices closed near the session low and closed at a fresh four-month low close today. Cotton bears have the near-term technical advantage. A 10-week-old downtrend is in place on the daily bar chart.

July orange juice closed up 530 points at $1.5410 today. Prices closed near the session high today and hit a fresh contract high. The FCOJ bulls have the solid overall near- term technical advantage and gained more power today.

July lumber futures again closed down the $10.00 limit at $277.40 today. Prices hit another fresh contract low today. Bears have the solid near-term technical advantage. A steep 2.5-month-old downtrend is in place on the daily bar chart.

 


 

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Grains Snapshot
Symbol Last Change %
CORN Dec 2013 562.50 -3.25 -0.57%
OATS Jul 2013 363.00 -3.25 -0.90%
WHEAT Jul 2013 697.75 -5.00 -0.71%
TEUCRIUM CORN 42.52 +0.84 +1.98%
IPATH DJ-UBS GRAINS TRUST 51.96 +0.71 +1.37%
ELEMENTS MLCX GRAINS INDEX TRUST 6.7701 +0.0401 +0.57%
SOYBEANS Jul 2013 1497.00 -4.75 -0.32%
SOYBEAN (MINI) Nov 2013 1288.5 +3.0 +0.23%
SOYBEAN MEAL Jul 2013 443.4 -0.9 -0.20%
TEUCRIUM SOYBEAN 24.592 +0.042 +0.17%

GRAINS

July corn was higher overnight and challenging the upper boundary of the April-May trading range crossing at 6.69. Stochastics and the RSI are bullish but becoming overbought warning bulls that a short-term top might be near. Closes below the 20-day moving average crossing at 6.51 3/4 would confirm that a short-term top has been posted. If July extends the rally off April’s low, the April 1st gap crossing at 6.76 is the next upside target. First resistance is the April 1st gap crossing at 6.76. Second resistance is the August-March downtrend line crossing near 6.87 3/4. First support is the 20-day moving average crossing at 6.51 3/4. Second support is the reaction low crossing at 6.32 1/2.

July wheat was lower overnight as it extends this spring’s trading range. The mid-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 7.09 would temper the near-term bearish outlook. If July renews the decline off May’s high, April’s low crossing at 6.64 3/4 is the next downside target. From a broad perspective, July wheat is locked in a three-month old trading range. Closes above 7.40 1/2 or below 6.64 3/4 are needed to confirm a breakout of this trading range and point the direction of the next trending move. First resistance is the reaction high crossing at 7.09. Second resistance is the reaction high crossing at 7.27 3/4. First support is last Tuesday’s low crossing at 6.74. Second support is April’s low crossing at 6.64 3/4.

July Kansas City Wheat closed up 4 1/4-cents at 7.47 3/4.

July Kansas City wheat closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 7.57 are needed to confirm that a low has been posted. If July renews this month’s decline, April’s low crossing at 7.16 1/2 is the next downside target. First resistance is the 20-day moving average crossing at 7.57. Second resistance is April’s high crossing at 7.96 3/4. First support is last Monday’s low crossing at 7.32 1/2. Second support is April’s low crossing at 7.16 1/2.

July Minneapolis wheat was lower overnight while extending this month’s trading range. The high-range close sets the stage for a steady to lower opening when the day session begins to trade. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July renews the rally off April’s low, the 38% retracement level of the July-April decline crossing at 8.53 3/4 is the next upside target. Closes below the reactio n low crossing at 8.00 1/4 would confirm a downside breakout of this month’s trading range while opening the door for additional weakness near-term. First resistance is the reaction high crossing at 8.34 1/2. Second resistance is the 38% retracement level of the July-April decline crossing at 8.53 3/4. First support is the reaction low crossing at 8.00 1/4. Second support is April’s low crossing at 7.60.

SOYBEAN COMPLEX

July soybeans were lower overnight. 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 14.37 3/4 are needed to confirm that a short-term top has been posted. If July renews the rally off April’s low, the 87% retracement level of the September-November decline crossing at 15.73 1/2 is the next upside target. First resistance is last Thur sday’s high crossing at 15.46 3/4. Second resistance is the 87% retracement level of the September-November decline crossing at 15.73 1/2. First support is the 10-day moving average crossing at 14.79 3/4. Second support is the 20-day moving average crossing at 14.37 3/4.

July soybean meal was slightly lower overnight as it consolidates some of this week’s gains. The mid-range close sets the stage for a steady opening when the day session begins trading. 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 421.60 are needed to confirm that a short-term top has been posted. If July extends the rally off April’s low, the 87% retracement level of the September-January decline crossing at 456.10 is the next upside target. First resistance is last Thursday’s high crossing at 451.40. Second resistance is the 87% retracement level of the September-January decline crossing at 456.10. Fir st support is the 10-day moving average crossing at 435.00. Second support is the 20-day moving average crossing at 421.60.

July soybean oil was lower overnight as it extends Wednesday’s sharp decline. The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If July renews this year’s decline, the 50% retracement level of the 2010-2011-rally crossing at 46.56 is the next downside target. Closes above the reaction high crossing at 50.42 are needed to confirm that a low has been posted. First resistance is last week’s high crossing at 50.61. Second resistance is March’s high crossing at 51.24. First support is April’s low crossing at 48.08. Second support is the 50% retracement level of the 2010-2011-rally crossing at 46.56.


 

Indexes Snapshot
Symbol Last Change %
DJ 30 INDUSTRIALS 15302.80 -106.59 -0.70%
NASDAQ COMPOSITE INDEX (COMBINED) 3470.34 -18.55 -0.53%
S&P 500 CASH 1648.36 -11.70 -0.71%
SPDR S&P 500 165.32 -0.98 -0.59%
QQQQ VOLATILITY INDEX 13.93 +0.22 +1.58%
iShares RUSSELL 2000 INDEX 98.225 -0.925 -0.94%

U.S. STOCK INDEXES

The June NASDAQ 100 was steady to slightly higher in quiet trading overnight as it consolidates above the 20-day moving average crossing at 2982.38. Stochastics and the RSI remain neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 2982.38 are needed to confirm that a short-term top has been posted. If June renews the rally off November’s low, weekly resistance crossing at 3084.00 is the next upside target. First resistance is last Tuesday’s high crossing at 3036.75. Second resistance is weekly resistance crossing at 3084.00. First support is the 20-day moving average crossing at 2982.38. Second support is May’s low crossing at 2862.25.

The June S&P 500 was higher overnight as it consolidates some of Wednesday’s decline. Stochastics and the RSI remain b earish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1639.90 are needed to confirm that a short-term top has been posted. If June renews this year’s rally, upside targets will be hard to project with the index trading into uncharted territory. First resistance is last Wednesday’s high crossing at 1685.50. Second resistance will be hard to project with the index trading into uncharted territory. First support is the 20-day moving average crossing at 1639.90. Second support is May’s low crossing at 1576.20.


 

Interest Snapshot
Symbol Last Change %
T-BONDS Jun 2013 141.34375 -0.28125 -0.20%
iShares FLOATING RATE NOTE 50.69 -0.01 -0.02%
5 YEAR T-NOTES Jun 2013 123.031250 -0.078125 -0.06%
ULTRA T-BONDS Jun 2013 154.06250 -0.37500 -0.24%
POWERSHARES SENIOR LOAN PORTF 25.137 -0.023 -0.09%

INTEREST RATES

June T-bonds was lower overnight following Wednesday’s upside reversal. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month’s decline, weekly support crossing at 139-14 is the next downside target. Closes above the 20-day moving average crossing at 144-17 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 143-03. Second resistance is the 20-day moving average crossing at 144-17. First support is Wednesday’s low crossing at 139-29. Second support is weekly support crossing at 139-14.


 

Livestock Snapshot
Symbol Last Change %
FEEDER CATTLE Aug 2013 145.725 +0.100 +0.07%
LEAN HOGS Jul 2013 93.250 +0.250 +0.27%
LIVE CATTLE Aug 2013 120.550 +0.150 +0.12%
IPATH DJ-UBS LIVESTOCK TRUST SUB 26.0610 +0.1010 +0.39%

LIVESTOCK

LIVESTOCK: August live cattle closed up $0.97 at $120.40 today. Prices closed nearer the session high and saw more short covering in a bear market. The weaker U.S. dollar index was bullish for the cattle market today. Cattle futures bears still have the overall near-term technical advantage.

August feeder cattle closed up $0.15 at $145.62 today. Prices closed near the session low today and saw more short covering in a bear market. The bears still have the solid near-term technical advantage.

August lean hogs closed up $0.02 at $92.50 today. Prices closed near the session low today and did hit another fresh 3.5-month high early on. Hog bulls have the near-term technical advantage. Prices are in a choppy 10-week-old uptrend on the daily bar chart.

 


 

Metals Snapshot
Symbol Last Change %
GOLD Aug 2013 1398.4 +6.6 +0.47%
SPDR GOLD SHARES 134.79 +1.30 +0.96%
SILVER Jul 2013 22.600 +0.147 +0.66%
PALLADIUM Sep 2013 751.70 +1.60 +0.21%
DIREXION DAILY GOLD MINERS BEA 89.902 -14.138 -15.73%
POWERSHARES DB PRECIOUS METALS 46.0260 +0.8860 +1.92%

PRECIOUS METALS

June gold was higher overnight as it extends the trading range of the past two weeks. The mid-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 1415.50 are needed to confirm that a short-term top has been posted. If June renews this month’s decline, April’s low crossing at 1321.50 is the next downside target. First resistance is the 20-day moving average crossing at 1415.50. Second resistance is May’s high crossing at 1487.20. First support is the reaction low crossing at 1336.30. Second support is April’s low crossing at 1321.50.

July silver was higher overnight. Stochastics and the RSI remain neutral to bullish hinting that a low might be in or is near. C loses above the 20-day moving average crossing at 23.080 are needed to confirm that a low has been posted. If July renews this month’s decline, the 75% retracement level of the 2008-2011-rally crossing at 19.316 is the next downside target. First resistance is the 20-day moving average crossing at 23.080. Second resistance is the reaction high crossing at 24.835. First support is last Monday’s low crossing at 22.250. Second support is the 75% retracement level of the 2008-2011-rally crossing at 19.316.

July copper was higher overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at 331.16 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If July renews the rally off May’s low, the 50% retracement level of this year’s decline crossing at 342.84 is the next upside target. First resistance is last W ednesday’s high crossing at 341.80. Second resistance is the 50% retracement level of this year’s decline crossing at 342.84. First support is the 20-day moving average crossing at 331.16. Second support is May’s low crossing at 304.25.


 

Top Stocks
# symbol name last net % volume score triangles
1. STEI STEWART ENTERPRISES 12.97 +3.23 +24.90% 74,387,392 +90    Entry Signal
2. SFD SMITHFIELD FOODS 33.40 +7.43 +22.28% 71,796,762 +100    Entry Signal
3. CSCO CISCO SYSTEMS 24.15 +0.26 +1.08% 32,458,941 +90    Entry Signal
4. CLWR CLEARWIRE 3.48 +0.05 +1.44% 28,909,643 +90    Entry Signal
5. CHK CHESAPEAKE ENERGY 22.595 +0.435 +1.93% 15,111,746 +100    Entry Signal
6. HMA HEALTH MGMT 12.28 +0.48 +3.92% 14,927,399 +100    Entry Signal
7. MRK MERCK 46.850 -0.770 -1.64% 13,956,181 +100    Entry Signal
8. ARNA ARENA PHARMACEUTICALS 8.73 -0.21 -2.40% 11,255,169 +90    Entry Signal
9. GRPN GROUPON INC 7.42 +0.03 +0.40% 9,417,544 +100    Entry Signal
10. BMY BRISTOL-MYERS SQUIBB 46.725 -0.955 -2.04% 9,320,592 +100    Entry Signal
Top Futures
# symbol name last net % volume score triangles
1. S.N13 SOYBEANS Jul 2013 1501.75 -7.50 -0.50% 80,708 +100    Entry Signal
2. SM.N13 SOYBEAN MEAL Jul 2013 444.3 +2.0 +0.45% 45,711 +85    Entry Signal
3. CLT.N13.E CRUDE OIL (TAS) Jul 2013 0.00 -0.01 0.00% 9,141 +90    Entry Signal
4. NG.Z13.E NATURAL GAS Dec 2013 4.427 -0.046 -1.04% 7,617 +85    Entry Signal
5. NG.X13.E NATURAL GAS Nov 2013 4.278 -0.035 -0.82% 7,506 +85    Entry Signal
6. SM.Q13 SOYBEAN MEAL Aug 2013 421.9 +2.4 +0.57% 7,016 +100    Entry Signal
7. ZS.N13.E SOYBEANS Jul 2013 1497.00 -4.75 -0.32% 5,633 +90    Entry Signal
8. TF.M13.E RUSSELL 2000 (MINI) Jun 2013 992.3 +4.8 +0.49% 3,883 +85    Entry Signal
9. NG.U14.E NATURAL GAS Sep 2014 4.263 -0.025 -0.59% 1,784 +90    Entry Signal
10. OJ.N13.E ORANGE JUICE-A Jul 2013 153.60 +5.75 +3.73% 1,668 +100    Entry Signal

Key Market Reports and Commentary for Tuesday 28/05/2013 – Copyright 2013 INO.com. All Rights Reserved

Morning Markets Report
Prepared on Tuesday, May 28, 2013

Summary
The Dow Future is higher 94 points to 15418. The US Dollar Index advanced 0.081 points to 83.743. Gold is declining 10.50 dollars to 1379.40. Silver 0.164 dollars to 22.292. The Dow Industrials moved up 8.60 points, at 15303.10, while the S&P 500 declined 0.91 points, last seen at 1649.60. The Nasdaq Composite fell 0.53 points to 3458.89. Streaming charts of these markets are available 24/7 at MarketClub

Blog Postings and Videos
Need Help Finding Trending Markets?
Monday May 27th

Weekly Futures Recap W/Mike Seery
Friday May 24th

Today’s Video Update: If The Economy Is So Good, Why Did This Happen?
Friday May 24th

Key Events for Tuesday

8:30 AM ET. April Chicago Fed Midwest Manufacturing Index

Manufacturing Index (MoM) (previous +0.3%)

Manufacturing Index (YoY) (previous +6.4%)

Auto Output Index (MoM) (previous (previous +1.2%)

Auto Output Index (YoY) (previous +13.3%)

Machinery Output Index (MoM) (previous +0.1%)

Machinery Output Index (YoY) (previous +2.5%)

Resource Output Index (MoM) (previous +0.4%)

Resource Output Index (YoY) (previous +3.4%)

Steel Output Index (MoM) (previous +1.1%)

Steel Output Index (YoY) (previous +4.3%)

9:00 AM ET. March S&P / Case-Shiller Home Price Index

SP Composite-10 MoM (previous +0.4%)

SP Composite-10 YoY (previous +8.6%)

SP Composite-20 MoM (previous +0.3%)

SP Composite-20 (expected +10.3%; previous +9.3%)

National QoQ (previous -0.3%)

National YoY (previous +7.3%)

10:00 AM ET. May Consumer Confidence Index

Consumer Confidence Index (expected 72; previous 68.1)

Expectation Index (previous 73.3)

Present Situation Index (previous 60.4)

10:00 AM ET. May Richmond Fed Business Activity Survey

Manufacturing Index (previous –6)

Retail Revenues Index (previous –23)

Services Revenue Index (previous –9)

Shipments Index (previous –9)

10:30 AM ET. May Texas Manufacturing Outlook Survey

Business Activity Index (previous -15.6)

Manufacturing Production Index (previous -0.5)


 

Currencies Snapshot
Symbol Last Change %
U.S $ INDEX 83.743 +0.081 +0.10%
POWERSHARES DB US DOLLAR INDEX 22.7100 -0.0300 -0.13%
US Dollar/Canadian Dollar 1.03438 +0.00045 +0.04%
Euro/US Dollar 1.29321 +0.00161 +0.12%
JAPANESE YEN Jun 2013 0.009800 -0.000094 -0.95%
SWISS FRANC Jun 2013 1.0335 -0.0030 -0.29%

CURRENCIES

The June Dollar was higher due to short covering overnight. Stochastics and the RSI are overbought and are turning bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 83.26 would confirm that a short-term top has been posted. If June renews the rally off May’s low, the July 2012 high crossing at 85.29 is the next upside target. First resistance is last Thursday’s high crossing at 84.59. Second resistance is the July 2012 high crossing at 85.29. First support is the 20-day moving average crossing at 83.26. Second support is the reaction low crossing at 83.04.

The June Euro was higher overnight. Stochastics and the RSI are turning bullish hinting that a low might be in or is near-term. Closes above the 20-day moving average crossing at 129.92 are needed to co nfirm that a low has been posted. If June renews this month’s decline, April’s low crossing at 127.51 is the next downside target. First resistance is the 20-day moving average crossing at 129.92. Second resistance is the reaction high crossing at 131.98. First support is the reaction low crossing at 127.98. Second support is April’s low crossing at 127.51.

The June British Pound was slightly lower overnight. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month’s decline, April’s low crossing at 1.5027 is the next downside target. Closes above the 20-day moving average crossing at 1.5325 would confirm that the short-term top has been posted. First resistance is the 20-day moving average crossing at 1.5325. Second resistance is May’s high crossing at 1.5603. First support is last Thursday’s low crossing at 1.5012. Second support is April’s low crossing at 1.5027.

The June Swiss Franc was lower overnight as it consolidates some of last week’s rally. Stochastics and the RSI are oversold and are turning bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at .10485 would confirm that a low has been posted. If June renews this month’s decline, last July’s low crossing at .10148 is the next downside target. First resistance is the 20-day moving average crossing at .10485. Second resistance is the reaction high crossing at .10719. First support was last Wednesday’s low crossing at .10166. Second support is last July’s low crossing at .10148.

The June Canadian Dollar was slightly higher overnight. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this year’s decline, last May’s low crossing at 95.30 is the next downside target. Closes above the 20-day moving average crossing at 98.26 are needed to con firm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 97.35. Second resistance is the 20-day moving average crossing at 98.26. First support is last Thursday’s low crossing at 96.15. Second support is last May’s low crossing at 95.30.

The June Japanese Yen was lower overnight. Stochastics and the RSI have turned bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at .9926 are needed to confirm that a low has been posted. If June resumes this year’s decline, monthly support crossing at .9421 is the next downside target. First resistance is the 20-day moving average crossing at .9926. Second resistance is the reaction high crossing at .10147. First support is last Wednesday’s low crossing at .9640. Second support is monthly support crossing at .9421.


 

Energy Snapshot
Symbol Last Change %
CRUDE OIL Jul 2013 95.08 +1.43 +1.53%
HEATING OIL Jul 2013 2.9055 +0.0413 +1.44%
NATURAL GAS Jul 2013 4.264 -0.069 -1.59%
RBOB GASOLINE Jul 2013 2.8586 +0.0330 +1.17%
POWERSHARES DYNAMIC ENERGY 50.740 -0.800 -1.59%
UNITED STATES GASOLINE 56.408 +0.138 +0.25%

ENERGIES

July crude oil was higher due to short covering overnight as it consolidates some of last week’s decline. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 92.13 would confirm that a double top has been posted. If July renews the rally off April’s low, April’s high crossing at 98.22 is the next upside target. First resistance is April’s high crossing at 98.22. Second resistance is February’s high crossing at 99.77. First support is the reaction low crossing at 92.40. Second support is the reaction low crossing at 90.32.

July heating oil was higher due to short covering overnight as it consolidates some of last week’s decline. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends last week’s decline, the reaction low crossing at 281.52 is the next downside target. Closes above the 10-day moving average crossing at 289.09 would temper the near-term bearish outlook. First resistance is the ten-day moving average crossing at 289.09. Second resistance is this month’s high crossing at 295.15. First support is the reaction low crossing at 281.52. Second support is May’s low crossing at 275.78.

July unleaded gas was higher due to short covering overnight as it consolidates some of last week’s decline. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends last week’s decline, the reaction low crossing at 275.68 is the next downside target. Closes above the 10-day moving average crossing at 284.58 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 284.58. Second resistance is May’s high crossing at 290.54. First support is the reaction low crossing at 275.68. Second support is May’s low crossing at 267.50.

July Henry natural gas was slightly lower overnight as it consolidates some of last week’s rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends last week’s rally, May’s high crossing at 4.499 is the next upside target. Closes below the 20-day moving average crossing at 4.136 would confirm that a short-term low has been posted and would open the door for additional weakness near-term. First resistance is the overnight high crossing at 4.358. Second resistance is May’s high crossing at 4.499. First support is the 20-day moving average crossing at 4.135. Second support is May’s low crossing at 3.933.


 

Food Snapshot
Symbol Last Change %
COCOA Jul 2013 2257 +11 +0.49%
COFFEE Jul 2013 127.65 +0.40 +0.31%
ORANGE JUICE-A Jul 2013 147.30 -1.10 -0.74%
IPATH DJ-UBS SUGAR TRUST 60.1899 +0.2699 +0.45%
IPATH DJ-UBS SOFTS TRUST 51.28 +0.44 +0.93%

FOOD & FIBER

July coffee closed lower on Friday as it extends this month’s decline. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the aforementioned decline, weekly support crossing at 11.33 is the next downside target. Closes above the 20-day moving average crossing at 13.83 would confirm that a short-term low has been posted.

July cocoa closed lower on Friday as it extends this month’s decline. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this month’s decline, the 50% retracement level of the March-May r ally crossing at 22.41 is July’s next downside target. Closes above the 20-day moving average crossing at 23.44 are needed to confirm that a low has been posted.

July sugar closed higher due to short covering on Friday as it consolidates some of this month’s decline. The high-range close set the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible. If July extends this year’s decline, the 87% retracement level of the 2010-2011-rally crossing at 16.29 is the next downside target. Closes above the 20-day moving average crossing at 17.20 are needed to confirm that a short-term low has been posted.

July cotton closed lower on Friday as it extends this month’s decline. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If Ju ly extends this month’s decline, the 62% retracement level of the November-March rally crossing at 80.56 is the next downside target. Closes above the 20-day moving average crossing at 85.69 are needed to confirm that a low has been posted.


 

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Grains Snapshot
Symbol Last Change %
CORN Dec 2013 543.50 +7.00 +1.31%
OATS Jul 2013 365.00 +1.00 +0.27%
WHEAT Jul 2013 696.50 -1.00 -0.14%
TEUCRIUM CORN 40.0976 -0.4424 -1.09%
IPATH DJ-UBS GRAINS TRUST 51.992 +0.522 +1.02%
ELEMENTS MLCX GRAINS INDEX TRUST 6.7701 +0.0401 +0.59%
SOYBEANS Jul 2013 1486.25 +10.00 +0.68%
SOYBEAN (MINI) Nov 2013 1247.750 +4.750 +0.38%
SOYBEAN MEAL Jul 2013 432.7 +4.5 +1.05%
TEUCRIUM SOYBEAN 23.7199 -0.1201 -0.50%

GRAINS

July corn was fractionally higher overnight as it extends this month’s trading range. Overnight gains were subdued ahead of this afternoon’s planting progress report where traders are expecting this year’s planting progress report come approach 90% complete. The bearish mindset of traders continues to trump bullish weather and this week’s continued wet weather forecast, as the market appears to have adopted the attitude that rain makes grain. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If July renews the rally off April’s low, the April 1st gap crossing at 6.76 is the next upside target. Closes below the reaction low crossing at 6.25 would open the door for a test of April’s low crossing at 6.10. First resistance is the April 1st gap crossing at 6.76. Second resistance is th e August-March downtrend line crossing near 6.89 1/4. First support is the reaction low crossing at 6.25. Second support is April’s low crossing at 6.10.

July wheat was lower overnight as it extends this spring’s trading range. The mid-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 7.04 would temper the near-term bearish outlook. If July renews the decline off May’s high, April’s low crossing at 6.64 3/4 is the next downside target. From a broad perspective, July wheat is locked in a three-month old trading range. Closes above 7.40 1/2 or below 6.64 3/4 are needed to confirm a breakout of this trading range and point the direction of the next trending move. First resistance is the 20-day moving average crossing at 7.04. Second resistance is the reaction high crossing at 7.27 3/4. Fir st support is last Tuesday’s low crossing at 6.74. Second support is April’s low crossing at 6.64 3/4.

July Kansas City Wheat closed down 8 3/4-cents at 7.45 3/4.

July Kansas City wheat closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 7.60 3/4 are needed to confirm that a low has been posted. If July renews this month’s decline, April’s low crossing at 7.16 1/2 is the next downside target. First resistance is the 20-day moving average crossing at 7.60 3/4. Second resistance is April’s high crossing at 7.96 3/4. First support is Monday’s low crossing at 7.32 1/2. Second support is April’s low crossing at 7.16 1/2.

July Minneapolis wheat was fractionally higher overnight while extending this month’s trading range. The high-range close sets the stage for a steady to higher opening when the da y session begins to trade. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 8.00 1/4 would confirm a downside breakout of this month’s trading range while opening the door for additional weakness near-term. If July renews the rally off April’s low, the 38% retracement level of the July-April decline crossing at 8.53 3/4 is the next upside target. First resistance is the reaction high crossing at 8.34 1/2. Second resistance is the 38% retracement level of the July-April decline crossing at 8.53 3/4. First support is the reaction low crossing at 8.00 1/4. Second support is April’s low crossing at 7.60.

SOYBEAN COMPLEX

July soybeans were higher overnight as they consolidate some of the decline off last Thursday’s high. The high-range close sets the sta ge for steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI have turned bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 14.25 1/4 would confirm that a short-term top has been posted. If July extends the rally off April’s low, the 87% retracement level of the September-November decline crossing at 15.73 1/2 is the next upside target. First resistance is last Thursday’s high crossing at 15.46 3/4. Second resistance is the 87% retracement level of the September-November decline crossing at 15.73 1/2. First support is the 10-day moving average crossing at 14.60 1/4. Second support is the 20-day moving average crossing at 14.25 1/4.

July soybean meal was higher due to short covering overnight as it consolidates some of the decline off last week’s high. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 417.70 are needed to confirm that a short-term top has been posted. If July extends the rally off April’s low, the 87% retracement level of the September-January decline crossing at 456.10 is the next upside target. First resistance is last Thursday’s high crossing at 451.40. Second resistance is the 87% retracement level of the September-January decline crossing at 456.10. First support is the 10-day moving average crossing at 427.50. Second support is the 20-day moving average crossing at 417.70.

July soybean oil was higher overnight while extending this spring’s trading range. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. If July renews this year’s decline, the 50% retracemen t level of the 2010-2011-rally crossing at 46.56 is the next downside target. Closes above the reaction high crossing at 50.42 are needed to confirm that a low has been posted. First resistance is last week’s high crossing at 50.61. Second resistance is March’s high crossing at 51.24. First support is April’s low crossing at 48.08. Second support is the 50% retracement level of the 2010-2011-rally crossing at 46.56.


 

Indexes Snapshot
Symbol Last Change %
DJ 30 INDUSTRIALS 15303.10 +8.60 +0.06%
NASDAQ COMPOSITE INDEX (COMBINED) 3458.89 -0.53 -0.02%
S&P 500 CASH 1649.60 -0.91 -0.06%
SPDR S&P 500 165.3200 -0.1300 -0.08%
QQQQ VOLATILITY INDEX 13.28 -0.57 -4.27%
iShares RUSSELL 2000 INDEX 97.92 +0.02 +0.02%

U.S. STOCK INDEXES

The June NASDAQ 100 was higher overnight as it rebounds off key support marked by the 20-day moving average crossing at 2970.70. Stochastics and the RSI are bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 2970.70 are needed to confirm that a short-term top has been posted. If June renews the rally off November’s low, weekly resistance crossing at 3084.00 is the next upside target. First resistance is last Tuesday’s high crossing at 3036.75. Second resistance is weekly resistance crossing at 3084.00. First support is the 20-day moving average crossing at 2970.70. Second support is May’s low crossing at 2862.25.

The June S&P 500 was higher overnight as it consolidates some of last week’s decline. Stochastics and the RSI are bearish signaling that a short-term to p might be in or is near. Closes below the 20-day moving average crossing at 1633.95 are needed to confirm that a short-term top has been posted. If June renews this year’s rally, upside targets will be hard to project with the index trading into uncharted territory. First resistance is last Wednesday’s high crossing at 1685.50. Second resistance will be hard to project with the index trading into uncharted territory. First support is the 20-day moving average crossing at 1633.95. Second support is May’s low crossing at 1576.20.


 

Interest Snapshot
Symbol Last Change %
T-BONDS Jun 2013 142.87500 -0.09375 -0.07%
iShares FLOATING RATE NOTE 50.708 +0.028 +0.06%
5 YEAR T-NOTES Jun 2013 123.554688 +0.023438 +0.02%
ULTRA T-BONDS Jun 2013 156.40625 +0.09375 +0.06%
POWERSHARES SENIOR LOAN PORTF 25.14 -0.07 -0.28%

INTEREST RATES

June T-bonds was lower overnight and testing support marked by the 75% retracement level of the March-May rally crossing at 142-24. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month’s decline, the 87% retracement level of the March-May rally crossing at 141-19 is the next downside target. Closes above the 20-day moving average crossing at 145-11 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 143-24. Second resistance is the 20-day moving average crossing at 145-11. First support is the 75% retracement level of the March-May rally crossing at 142-24. Second support is the 87% retracement level of the March-May rally crossing at 141-19.


 

Livestock Snapshot
Symbol Last Change %
FEEDER CATTLE Aug 2013 144.55 +1.90 +1.31%
LEAN HOGS Jul 2013 93.300 +0.275 +0.29%
LIVE CATTLE Aug 2013 119.225 +1.025 +0.86%
IPATH DJ-UBS LIVESTOCK TRUST SUB 25.9190 +0.0290 +0.11%

LIVESTOCK

June hogs closed up $0.67 at $94.87.

June hogs closed higher on Friday as it extended the rally off March’s low. The high-range close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March’s low, the 62% retracement level of the December-March decline crossing at 96.18 is the next upside target. Closes below the 20-day moving average crossing at 92.30 would confirm that a short-term top has been posted. First resistance is today’s high crossing at 94.97. Second resistance is the 62% retracement level of the December-March decline crossing at 96.18. First support is the 20-day moving average crossing at 92.30. Second support the reaction low crossing at 90.80.

June cattle closed up $1.45 at 120.57.

June cattle closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 120.86 would confirm that a short-term low has been posted. If June renews this month’s decline, weekly support crossing at 115.44 is the next downside target. First resistance is the 20-day moving average crossing at 120.86. Second resistance is the reaction high crossing at 121.40. First support is last Friday’s low crossing at 118.80. Second support is weekly support crossing at 115.44.

August feeder cattle closed up $1.90 at $144.55.

August Feeder cattle closed higher on Friday and the high-range close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI are n eutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 146.27 are needed to confirm that a low has been posted. If August extends this year’s decline, weekly support crossing at 132.45 is the next downside target. First resistance is the 20-day moving average crossing at 146.27. Second resistance is the reaction high crossing at 149.80. First support is Monday’s low crossing at 142.50. Second support is weekly support crossing at 132.45.


 

Metals Snapshot
Symbol Last Change %
GOLD Jun 2013 1379.1 -14.2 -1.02%
SPDR GOLD SHARES 133.83 -0.78 -0.58%
SILVER Jul 2013 22.285 -0.335 -1.48%
PALLADIUM Sep 2013 737.0 -1.8 -0.24%
DIREXION DAILY GOLD MINERS BEA 101.4001 +3.9001 +3.81%
POWERSHARES DB PRECIOUS METALS 46.0260 +0.8860 +1.94%

PRECIOUS METALS

June gold was lower overnight as it extends the trading range of the past seven days. The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI have turned bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 1421.90 are needed to confirm that a short-term top has been posted. If June renews this month’s decline, April’s low crossing at 1321.50 is the next downside target. First resistance is the 20-day moving average crossing at 1421.90. Second resistance is May’s high crossing at 1487.20. First support is last Monday’s low crossing at 1336.30. Second support is April’s low crossing at 1321.50.

July silver was lower overnight. Stochastics and the RSI remain neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 23.209 are needed to confirm that a low has been posted. If July renews this month’s decline, the 75% retracement level of the 2008-2011-rally crossing at 19.316 is the next downside target. First resistance is the 20-day moving average crossing at 23.209. Second resistance is the reaction high crossing at 24.835. First support is last Monday’s low crossing at 22.250. Second support is the 75% retracement level of the 2008-2011-rally crossing at 19.316.

July copper was higher overnight. However, stochastics and the RSI are bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 329.49 would confirm that a short-term top has been posted. If July renews this month’s rally, the 50% retracement level of this year’s decline crossing at 342.84 is the next upside target. First resistance is last Wednesday’s high crossing at 341.80. Second resistance is the 50% retracement level of this year’s decline crossing at 342.84. First support is the 20-day moving average crossing at 329.46. Second support is May’s low crossing at 304.25.


 

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