E X T R E M E M A R K E T C O M M E N T A R Y
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STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+
The December NASDAQ 100 closed sharply lower on Tuesday renewing the decline
off September’s high. The low-range close sets the stage for a steady to lower
opening when Wednesday’s night session begins trading. Stochastics and the RSI
have turned bearish signaling that sideways to lower prices are possible
near-term. If December extends the decline off September’s high, the 38%
retracement level of the June-September rally crossing at 2707.79 is the next
downside target. Closes above the 20-day moving average crossing at 2813.85
would confirm that a short-term low has been posted. First resistance is the
10-day moving average crossing at 2791.87. Second resistance is the 20-day
moving average crossing at 2813.83. First support is today’s low crossing at
2730.00. Second support is the 38% retracement level of the June-September
rally crossing at 2707.79.
The December S&P 500 closed lower on Tuesday and below the 10-day moving
average crossing at 1442.70 confirming that the correction off the
late-September low has come to an end. The low-range close sets the stage for a
steady to lower opening when Wednesday’s night session begins trading.
Stochastics and the RSI are turning neutral signaling that sideway to lower
prices is possible near-term. If December extends today’s decline, the
late-September low crossing at 1424.50 is the next downside target. If December
renews the rally off the late-September low, monthly resistance crossing at
1472.56 is the next upside target. First resistance is September’s high
crossing at 1467.50. Second resistance is monthly resistance crossing at
1472.56. First support is Tuesday’s low crossing at 1437.00. Second support is
the late-September low crossing at 1424.50.
The Dow closed lower on Tuesday while extended the trading range of the past
four weeks. The low-range close sets the stage for a steady to lower opening on
Wednesday. Stochastics and the RSI are diverging but remain neutral to bullish
signaling that sideways to higher prices are possible near-term. If the Dow
extends this summer’s rally, the 2007 high crossing at 14,198 is the next
upside target. Closes below the reaction low crossing at 13,367 would confirm
that a short-term top has been posted. First resistance is last Friday’s high
crossing at 13,661. Second resistance is the 2007 high crossing at 14,198.
First support is the reaction low crossing at 13,367. Second support is the
June-July uptrend line crossing near 13,289.
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December T-bonds closed down 9/32’s at 147-31.
December T-bonds closed lower on Tuesday and the low-range close sets the
stage for a steady to lower opening on Wednesday. Stochastics and the RSI are
bearish signaling that sideways to lower prices are possible near-term. If
December extends last week’s decline, the reaction low crossing at 146-10 is
the next downside target. Closes above the 10-day moving average crossing at
149-02 would confirm that a short-term low has been posted. First resistance is
the 10-day moving average crossing at 149-02. Second resistance is the reaction
high crossing at 150-09. First support is Monday’s low crossing at 147-10.
Second support is the reaction low crossing at 146-10.
ENERGY MARKETS http://quotes.ino.com/exchanges/category.html?c=energy
November crude oil closed higher due to short covering on Tuesday as it
consolidated some of the decline off September’s high. The high-range close
sets the stage for a steady to higher opening when Wednesday’s night session
begins. Stochastics and the RSI are diverging and turning bullish signaling
that sideways to higher prices are possible near-term. Closes above the 20-day
moving average crossing at 92.92 would confirm that a low has been posted. If
November renews the decline off September’s high, the 50% retracement level of
the June-September rally crossing at 89.76 is the next downside target. First
resistance is the 20-day moving average crossing at 92.92. Second resistance is
September’s high crossing at 100.73. First support is the 62% retracement level
of the June-September rally crossing at 87.19. Second support is the 75%
retracement level of the June-September rally crossing at 84.29.
November heating oil closed higher on Tuesday as it extended the rally off
September’s low. The high-range close sets the stage for a steady to higher
opening when Wednesday’s night session begins trading. Stochastics and the RSI
remain bullish signaling that sideways to higher prices are possible near-term.
If November extends today’s rally, September’s high crossing at 326.33 is the
next upside target. Closes below the reaction low crossing at 305.89 would
confirm that a short-term top has been posted. First resistance is today’s high
crossing at 321.56. Second resistance is September’s high crossing at 326.33.
First support is the reaction low crossing at 305.89. Second support is
September’s low crossing at 302.27.
November unleaded gas closed higher on Tuesday as it extended the rally off
June’s low. The high-range close sets the stage for a steady to higher opening
when Wednesday’s night session begins trading. Stochastics and the RSI are
bullish signaling that sideways to higher prices are possible near-term. If
November extends this summer’s rally, March’s high crossing at 298.84 is the
next upside target. Closes below the reaction low crossing at 275.38 would
confirm that a short-term top has been posted. First resistance is today’s high
crossing at 298.25. Second resistance is March’s high crossing at 298.84. First
support is the reaction low crossing at 275.38. Second support is September’s
low crossing at 270.29.
November Henry natural gas closed higher due to short covering on Tuesday as
it consolidates some of last week’s decline. The high-range close sets the
stage for a steady to higher opening on Wednesday. Stochastics and the RSI are
neutral to bearish signaling that sideways to lower prices are possible
near-term. Closes below the 20-day moving average crossing at 3.222 would
confirm that a short-term top has been posted. If November renews the rally off
August’s low, the 38% retracement level of the 2011-2012-decline crossing at
3.635 is the next upside target. First resistance is the reaction high crossing
at 3.546. Second resistance is the 38% retracement level of the
2011-2012-decline crossing at 3.635. First support is Monday’s low crossing at
3.327. Second support is the 20-day moving average crossing at 3.222.
CURRENCIES http://quotes.ino.com/exchanges/category.html?c=currencies
The December Dollar closed higher on Tuesday and the high-range close sets
the stage for a steady to higher opening on Wednesday. Stochastics and the RSI
are neutral to bearish signaling that sideways to lower prices are possible
near-term. If December renews the decline off July’s high, weekly support
crossing at 78.55 is the next downside target. Closes above the reaction high
crossing at 80.25 are needed to confirm that a short-term low has been posted.
First resistance is the reaction high crossing at 80.25. Second resistance is
the 38% retracement level of the July-September decline crossing at 80.97.
First support is last Friday’s low crossing at 79.18. Second support is
September’s low crossing at 78.72.
The December Euro closed lower on Tuesday signaling an end of the corrective
rebound off last week’s low. The low-range close sets the stage for a steady to
lower opening on Wednesday. Stochastics and the RSI are turning neutral to
bearish signaling that sideways to lower prices are possible near-term. If
December renews the decline off September’s high, the reaction low crossing at
125.20 is the next downside target. If December renews the rally off July’s
low, the 50% retracement level of this year’s decline crossing at 132.52 is the
next upside target. First resistance is September’s high crossing at 131.83.
Second resistance is the 50% retracement level of this year’s decline crossing
at 132.52. First support is the reaction low crossing at 128.13. Second support
is the reaction low crossing at 125.20.
The December British Pound closed lower on Tuesday as it extends the decline
off September’s high. The low-range close sets the stage for a steady to lower
opening when Wednesday’s night session begins trading. Stochastics and the RSI
remain neutral to bearish signaling that sideways to lower prices are possible
near-term. If December extends the aforementioned decline, the 38% retracement
level of the June-September rally crossing at 1.5933 is the next downside
target. Closes above the 20-day moving average crossing at 1.6161 would confirm
that a short-term low has been posted. First resistance is the 10-day moving
average crossing at 1.6118. Second resistance is the 20-day moving average
crossing at 1.6161. First support is today’s low crossing at 1.5972. Second
support is the 38% retracement level of the June-September rally crossing at
1.5933.
The December Swiss Franc closed lower on Tuesday and below the July-August
uptrend line crossing near .10656 confirming that a short-term trend change has
taken place. The low-range close sets the stage for a steady to lower opening
when Wednesday’s night session begins trading. Stochastics and the RSI are
turning neutral to bearish signaling that sideways to lower prices are possible
near-term. If December extends this week’s decline, the 38% retracement level
of the July-September rally crossing at .10550 is the next downside target.
Closes above the 20-day moving average crossing at .10717 would confirm that a
short-term low has been posted. First resistance is last Friday’s high crossing
at .10793. Second resistance is September’s high crossing at .10838. First
support is the reaction low crossing at .10609. Second support is the 38%
retracement level of the July-September rally crossing at .10550.
The December Canadian Dollar closed lower on Tuesday and the mid-range close
sets the stage for a steady opening when Wednesday’s night session begins
trading. Stochastics and the RSI are bullish signaling that sideways to higher
prices are possible near-term. If December renews the rally off June’s low,
last July’s high crossing at 104.53 is the next upside target. Closes below the
reaction low crossing at 100.99 would confirm that a short-term top has been
posted. First resistance is last Friday’s high crossing at 102.56. Second
resistance is September’s high crossing at 103.59. First support is the 10-day
moving average crossing at 101.68. Second support is the reaction low crossing
at 100.99.
The December Japanese Yen closed lower on Tuesday as it consolidates below
the 10-day moving average crossing at .12803. The high-range close sets the
stage for a steady to higher opening when Wednesday’s night session begins
trading. Stochastics and the RSI are turning neutral to bullish signaling that
additional gains are possible. Closes below the reaction low .12631 would
confirm that a short-term top has been posted. If December renews the rally off
August’s low, the reaction high crossing at .12922 is the next upside target.
First resistance is the reaction high crossing at .12922. Second resistance is
September’s high crossing at .12977. First support is the reaction low crossing
at .12631. Second support is August’s low crossing at .12565.
PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals
December gold closed lower on Tuesday as it consolidates some of this
summer’s rally. The low-range close sets the stage for a steady to lower
opening when Wednesday’s night session begins trading. Stochastics and the RSI
are turning neutral to bearish signaling that sideways to lower prices are
possible near-term. Closes below the reaction low crossing at 1738.30 are
needed to confirm that a short-term top has been posted. If October renews the
rally off August’s low, this year’s high crossing at 1799.50 is the next upside
target. First resistance is last Friday’s high crossing at 1798.10. Second
resistance is this year’s high crossing at 1799.50. First support is today’s
low crossing at 1762.00. Second support is the reaction low crossing at
1738.30.
December silver closed lower on Tuesday as it extends the trading range of
the past four weeks. The mid-range close set the stage for a steady opening
when Wednesday’s night session begins trading. Stochastics and the RSI are
bearish signaling that sideways to lower prices are possible near-term. Closes
below the reaction low crossing at 33.360 would confirm that a short-term top
has been posted. If December renews the rally off June’s low, the 87%
retracement level of this year’s decline crossing at 36.221 is the next upside
target. First resistance is the reaction high crossing at 35.445. Second
resistance is the 87% retracement level of this year’s decline crossing at
36.221. First support is the reaction low crossing at 33.360. Second support is
the reaction low crossing at 32.510.
December copper closed lower on Tuesday as it extended the trading range of
the past four months. The low-range close sets the stage for a steady to lower
opening when Wednesday’s night session begins trading. Stochastics and the RSI
are bearish signaling that sideways to lower prices are possible near-term.
Closes below the reaction low crossing at 368.05 would confirm that a
short-term top has been posted. If December renewed the rally off August’s low,
the 87% retracement level of this year’s decline crossing at 392.60 is the next
upside target. First resistance is the reaction high crossing at 383.95. Second
resistance is the 87% retracement level of this year’s decline crossing at
392.60. First support is the reaction low crossing at 368.05. Second support is
the reaction low crossing at 365.85.
FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food
December coffee close lower on Tuesday as it extended the decline off last
week’s high. The low-range close sets the stage for a steady to lower opening
on Wednesday. Stochastics and the RSI are bearish signaling that sideways to
lower prices are possible near-term. If December extends this week’s decline,
September’s low crossing at 15.65 is the next downside target. Closes above the
20-day moving average crossing at 17.45 are needed to confirm that a short-term
low has been posted.
December cocoa closed higher due to short covering on Tuesday as it
consolidates some of the decline off September’s high. The mid-range close sets
the stage for a steady opening on Wednesday. Stochastics and the RSI are
oversold but remain neutral to bearish signaling that sideways to lower prices
are possible near-term. If December extends this month’s decline, July’s low
crossing at 21.78 is the next downside target. Closes above the 20-day moving
average crossing at 24.94 would confirm that a short-term low has been posted.
March sugar closed higher on Tuesday but the low-range close set the stage
for a steady to lower opening on Wednesday. Stochastics and the RSI are
overbought and turning neutral to bearish hinting that a top might be in or is
near. If March renews this fall’s rally, the reaction high crossing at 22.53 is
the next upside target. Closes below the 20-day moving average crossing at
20.73 would confirm that a short-term top has been posted.
December cotton closed higher on Tuesday and the mid-range close sets the
stage for a steady opening on Wednesday. Stochastics and the RSI are neutral to
bullish signaling that sideways to higher prices are possible near-term. Closes
above 77.49 or below 69.40 are needed to confirm a breakout of August’s trading
range and point the direction of the next trending move.
GRAINS http://quotes.ino.com/exchanges/category.html?c=grains
December Corn closed unchanged at 7.42.
December corn closed unchanged on Tuesday in subdued trading as the market
awaits Thursday’s monthly supply-demand report. The low-range close sets the
stage for a steady to lower opening when Wednesday’s night session begins
trading. Stochastics and the RSI remain neutral to bullish signaling that
sideways to higher prices are possible near-term. Closes above the reaction
high crossing at 7.68 1/2 would confirm that a short-term low has been posted.
If December renews the decline off August’s high, the 38% retracement level of
this summer’s rally crossing at 7.15 1/4 is the next downside target. First
resistance is the reaction high crossing at 7.66 1/2. Second resistance is the
reaction high crossing at crossing at 7.89 1/2. First support is last week’s
low crossing at 7.05. Second support is the 50% retracement level of this
summer’s rally crossing at 6.73 3/4.
December wheat closed up 3 1/4-cents at 8.64 1/4.
December wheat closed higher due to short covering on Tuesday. The mid-range
close sets the stage for a steady to higher opening when Wednesday’s night
session begins trading. Stochastics and the RSI are turning neutral to bearish
signaling that sideways to lower prices are possible near-term. From a broad
perspective, December wheat needs to close above 9.53 1/4 or below 8.57 1/4 to
confirm a breakout of this summer’s trading range and point the direction of
the next trending move. First resistance is August’s high crossing at 9.45 1/2.
Second resistance is July’s high crossing at 9.53 1/4. First support is
August’s low crossing at 8.57 1/4. Second support is the 38% retracement level
of this summer’s rally crossing at 8.29 3/4.
December Kansas City Wheat closed up 6-cents at 8.88 3/4.
December Kansas City wheat gapped up and closed higher on Tuesday. The
low-range close sets the stage for a steady to lower opening on Wednesday.
Stochastics and the RSI are neutral to bearish signaling that sideways to lower
prices are possible near-term. If December extends the decline off September’s
high, August’s low crossing at 8.47 1/2 is the next downside target. If
December renews the rally off September’s low, the reaction high crossing at
9.29 is the next upside target. First resistance is the reaction high crossing
at 9.29. Second resistance is September’s high crossing at 9.49 1/4. First
support is August’s low crossing at 8.74 1/2. Second support is the 38%
retracement level of this summer’s rally crossing at 8.38 1/4.
December Minneapolis wheat closed up 3 1/2-cents at 9.28.
December Minneapolis wheat closed higher on Tuesday and the mid-range close
sets the stage for a steady opening when Wednesday’s night session begins to
trade. Stochastics and the RSI are neutral signaling that sideways trading is
possible near-term. Closes above the reaction high crossing at 9.64 are needed
to confirm that a short-term low has been posted. If December renews the
decline off July’s high, the 50% retracement level of this summer’s rally
crossing at 8.84 is the next downside target. First resistance is the reaction
high crossing at 9.64. Second resistance is September’s high crossing at 9.83
1/2. First support is August’s low crossing at 9.12 1/4. Second support is the
50% retracement level of this summer’s rally crossing at 8.84.
SOYBEAN COMPLEX
November soybeans closed down 1-cent at 15.50.
November soybeans closed lower on Tuesday and the low-range close sets the
stage for a steady to lower opening when Wednesday’s night session begins
trading. Stochastics and the RSI have turned bullish signaling that sideways to
higher prices are possible. Closes above the 20-day moving average crossing at
16.12 are needed to confirm that a low has been posted. If November renews the
decline off September’s high, the 62% retracement level of this summer’s rally
crossing at 14.52 3/4 is the next downside target. First resistance is the
20-day moving average crossing at 16.12. Second resistance is the reaction high
crossing at 16.86. First support is the 50% retracement level of this summer’s
rally crossing at 15.17 1/4. Second support is the 62% retracement level of
this summer’s rally crossing at 14.52 3/4.
December soybean meal closed down $1.60 at $471.00.
December soybean meal closed lower on Tuesday and the low-range close sets
the stage for a steady to lower opening when Wednesday’s night session begins
trading. Stochastics and the RSI have turned bullish signaling that sideways to
higher prices are possible near-term. Closes above the 20-day moving average
crossing at 487.50 would confirm that a short-term low has been posted. If
December renews the decline off September’s high, the 50% retracement level of
this summer’s rally crossing at 446.50 is the next downside target. First
resistance is the 20-day moving average crossing at 487.50. Second resistance
is the reaction high crossing at 506.70. First support is the reaction low
crossing at 455.10. Second support is the 50% retracement level of this
summer’s rally crossing at 446.50.
December soybean oil closed up 32-pts. at 51.25.
December soybean closed higher on Tuesday as it extended the rebound off
last week’s low. The low-range close sets the stage for a steady to lower
opening when Wednesday’s night session begins trading. Stochastics and the RSI
are neutral to bearish signaling that sideways to lower prices are possible
near-term. If December extends the decline off September’s high, the 87%
retracement level of this summer’s rally crossing at 49.88 is the next downside
target. Closes above the reaction high crossing at 53.06 would confirm that a
short-term low has been posted. First resistance is the reaction high crossing
at 53.06. Second resistance is the 20-day moving average crossing at 53.50.
First support is the reaction low crossing at 50.06. Second support is the 87%
retracement level of this summer’s rally crossing at 49.88.
LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock
December hogs closed down $0.08 at $76.80.
December hogs closed lower on Tuesday as it consolidated some of the rally
off this month’s low. The low-range close sets the stage for a steady to lower
opening when Wednesday’s night session begins trading. Stochastics and the RSI
are diverging but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If December extends the rally off September’s
low, the 50% retracement level of this year’s decline crossing at 78.05 is the
next upside target. Closes below the 20-day moving average crossing at 74.79
would temper the near-term friendly outlook. First resistance is Monday’s high
crossing at 77.65. Second resistance is the 50% retracement level of this
year’s decline crossing at 78.05. First support is the 10-day moving average
crossing at 75.58. Second support is the 20-day moving average crossing at
74.79.
December cattle closed up $0.32 at 126.72.
December cattle closed higher on Tuesday. The low-range close sets the stage
for a steady to lower opening when Wednesday’s night 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
127.29 are needed to confirm that a low has been posted. If December renews the
decline off September’s high, June’s low crossing at 123.15 is the next
downside target. First resistance is the 20-day moving average crossing at
127.29. Second resistance is the reaction high crossing at 129.20. First
support is September’s low crossing at 123.95. Second support is June’s low
crossing at 123.15.
November feeder cattle closed up $0.40 at $146.70.
November Feeder cattle closed higher on Tuesday and the high-range close
sets the stage for a steady to higher opening when Wednesday’s night 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 147.31 would confirm that a short-term low has been posted. If
November extends the decline off September’s high, July’s low crossing at
139.75 is the next downside target. First resistance is the 20-day moving
average crossing at 147.31. Second resistance is the 38% retracement level of
the June-July decline crossing at 149.03. First support is the reaction low
crossing at 143.80. Second support is the reaction low crossing at 143.40.
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E X T R E M E F U T U R E S
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Updated every 10 minutes around the clock.
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WINNERS
AA.Y$$ BUTTER-GRADE AA Cash 1940 15 +0.78
BO.K13 SOYBEAN OIL May 2013 52.38 0.38 +0.73
KW.Z12 HARD RED WINTER WHEAT Dec 2012 888.75 6.00 +0.68
C.Z13 CORN Dec 2013 627.75 3.00 +0.48
LOSERS
BCX.H13 SOYBEANS CRUSH INDEX Mar 2013 51.75 -1.75 -3.27
ND.H13 NASDAQ 100 INDEX Mar 2013 2727.5 -43.5 -1.57
GH RUSSELL 2000 GROWTH INDEX 474.16 -7.03 -1.47
RG RUSSELL 1000 GROWTH INDEX MINI 666.21 -8.28 -1.23
VB RUSSELL 2000 VALUE INDEX 1095.85 -11.45 -1.03
SP.Z14 S&P 500 INDEX Dec 2014 1383.1 -13.9 -0.99
MD.Z12 S&P MIDCAP 400 INDEX Dec 2012 980.9 -9.3 -0.94
RR.X12 ROUGH RICE Nov 2012 15.230 -0.135 -0.88
RV RUSSELL 1000 VALUE INDEX MINI 715.72 -5.49 -0.76
LB.K13 LUMBER (RANDOM LENGTH) May 2013 303 -2 -0.66
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E X T R E M E S T O C K S
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Updated every 10 minutes around the clock.
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WINNERS
EOPN E20 PEN 15.21 2.07 +15.75
SPB SPECTRUM BRANDS HOLDINGS 46.03 4.87 +11.83
HVU HORIZONS BETAPRO S&P 500 VIX B 8.49 0.82 +10.69
PVD AFP PROVIDA 110.27 8.53 +8.38
GPOR GULFPORT ENERGY CORP 32.65 2.22 +7.30
ANR ALPHA NATURAL RESOURCES 7.27 0.49 +7.23
REED REEDS 7.26 0.47 +6.92
FOLD AMICUS THERAPEUTICS 5.4901 0.3201 +6.19
HGD HORIZONS BETA S&PTSX GOLD BEAR 8.77 0.51 +6.17
NFX NEWFIELD EXPLORATION 32.63 1.89 +6.15
LOSERS
EW EDWARDS LIFESCIENCES 84.60 -22.81 -21.24
VDSI VASCO DATA SECURITY 7.34 -1.60 -17.90
PVA PENN VIRGINIA 5.48 -1.05 -16.08
SMCI SUPER MICRO COMPUTER 9.300 -1.340 -12.59
PAMT PARAMETRIC SOUND 5.46 -0.78 -12.50
FNV.WS.A FRACO-NEVADA CORP WA 8.60 -1.10 -11.34
ANGO ANGIODYNAMICS 11.41 -1.41 -11.00
DWCH DATAWATCH CORP 16.21 -1.98 -10.89
NFLX NETFLIX 65.5281 -7.9900 -10.87
CLSN CELSION 5.3499 -0.5411 -9.19
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T H A N K Y O U
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