Summary
The Dow Future has slipped 15 points to 25031. The US Dollar Index climbed 0.410 points to 97.197. Gold has gained 2.215 dollars to 1238.215. Silver has advanced 0.075 dollars to 14.528. The Dow Industrials dropped 311.77 points, at 25027.07, while the S&P 500 moved lower 37.70 points, last seen at 2700.06. The Nasdaq Composite edged lower 283.08 points to 7158.43. Streaming charts of these markets are available at MarketClub
CURRENCIES: The March Euro currency closed steady at 1.1450 today. Prices closed nearer the session low. Bears have the firm overall near-term technical advantage. A nine-week-old downtrend is in place on the daily bar chart. The March Japanese yen closed up 735 points at .89515 today. Prices closed near the session high today. Heavy short covering was featured. Bears still have the firm overall near-term technical advantage. The March Swiss franc closed up 9 points at 1.0128 today. Prices closed nearer the session low today. The Swissy bears have the firm overall near-term technical advantage. The March Canadian dollar closed down 14 points at .7572 today. Prices closed near the session low today. The bears have the firm overall near-term technical advantage. The March British pound closed down 7 points at 1.2790 today. Prices closed nearer the session low and hit another 1.5-year low today. The bears have the solid overall near- term technical advantage. The March U.S. dollar index closed down 0.089 at 96.315 today. Prices closed nearer the session high. The bulls have the firm overall near-term technical advantage.
ENERGIES: January Nymex crude oil closed up $0.16 at $53.12 today. Prices closed nearer the session low today. The bears still have the solid overall near-term technical advantage. A two-month-old downtrend is in place on the daily bar chart. There are still no early clues that a market bottom is close at hand. January heating oil closed up 203 points at $1.9078 today. Prices closed nearer the session low and saw more short covering after hitting a 13-month low last week. The bears have the solid overall near-term technical advantage. A two-month-old downtrend is in place on the daily bar chart. January (RBOB) unleaded gasoline closed up 208 points at $1.4522 today. Prices closed near mid-range on short covering. The bears still have the firm overall near-term technical advantage. A two-month-old downtrend is still in place on the daily bar chart. January natural gas closed up 15.8 cents at $4.497 today. Prices closed nearer the session high today. Bulls have the firm overall near-term technical advantage amid recent very choppy and volatile trading. A bullish symmetrical triangle pattern has formed on the daily bar chart.
SOFTS: March sugar closed down 19 points at 12.72 cents today. Prices closed nearer the session low today. The sugar bulls and bears are on a level overall near-term technical playing field. March coffee closed down 115 points at 106.65 cents today. Prices closed nearer the session low and hit a two-month low today. Bears have the firm overall near-term technical advantage. Prices are in a six-week-old downtrend on the daily bar chart. March cocoa closed down $28 at $2,175 a ton today. Prices closed nearer the session low. The cocoa bears have the overall near-term technical advantage. March cotton closed down 31 points at 79.64 cents today. Prices closed nearer the session low and filled Monday's upside gap-which is a bearish chart clue that suggests the bulls quickly have become exhausted after Monday's early surge. The cotton bears have the overall near-term technical advantage. January orange juice closed up 80 points at $1.4410 today. Prices closed near mid-range today. Bears have the overall near-term technical advantage. January lumber futures closed down $6.00 at $328.80 today. Prices closed nearer the session low. The bears have the firm overall near-term technical advantage.
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GRAINS: March corn futures closed up 2 3/4 cents at $3.84 3/4 today. Prices closed near the session high and closed at a four-week high close today. Corn bulls have gained some upside momentum this week, to suggest prices can attempt to push above the recent trading range on the daily chart. January soybeans closed up 5 1/2 cents at $9.11 1/4 a bushel today. Prices closed near the session high. Bulls showed some chart resilience today after prices in late trading Monday backed well off the nearly four-month highs set in earlier trading Monday. Bean bulls have some upside momentum. Bulls and bears are on a level overall near-term technical playing field. March soybean meal closed down $0.10 at $317.00 today. Prices closed near mid-range today. The bears still have the overall near-term technical advantage. March bean oil closed up 24 points at 29.02 cents today. Prices closed nearer the session high and hit a six-week high today. The bears still have the overall near-term technical advantage. March SRW wheat closed up 2 1/2 cents at $5.21 3/4 today. Prices closed near the session high today. SRW bears still have the overall near-term technical advantage. March HRW wheat closed down 1 1/4 cents today at $5.05 1/4. Prices closed near the session high today. The bears have the firm overall near-term technical advantage.
GENERAL STOCK MARKET COMMENT: The U.S. stock indexes closed solidly lower today. World stock markets were also mostly lower overnight. The initial trader and investor euphoria over a U.S.-China trade dispute cease-fire for 90 days has rapidly dissipated. The marketplace has quickly realized "the devil is in the details" on getting this matter resolved. The matter will likely continue to produce uncertainty in markets, with comments from U.S. and China government officials continuing to tweak the markets-just like was the case before the meeting between Presidents Trump and Xi last weekend. A feature in the marketplace just recently is sharply falling U.S. Treasury yields (rising prices). The five-year T-Note yield is presently below the two-year maturity. Notions of a less hawkish Federal Reserve in the coming months have helped to boost T-Bond and T-Note prices, and the fears of an inverted yield curve have spooked the stock market. The key outside markets today find the U.S. dollar index slightly lower. The U.S.-China trade truce has boosted the world's secondary currency markets early this week, which in turn is pressuring the greenback. Meantime, Nymex crude oil prices were slightly higher and trading around $53.00 a barrel. Some short covering is seen in the oil market recently, following steep losses. The OPEC oil cartel will meet in Vienna, Austria on Thursday. Reports said Russian and Saudi Arabian officials plan to extend production cuts. Also, Canada will curtail its crude production. In overnight news, the Euro zone producer price index for October came in at up 0.8% from September and up 4.9%, year-on-year. Those numbers were hotter than expected. The death of former U.S. President George H.W. Bush and a national day of mourning Wednesday will close the U.S. stock and financial markets. Other U.S. futures markets will remain open as normal.
March U.S. T-Bonds closed up 2 full points and 4/32 at 142 21/32 today. Prices closed near the session high today and hit a three-month high. The bond market bulls have the solid overall near-term technical advantage. A steep four- week-old uptrend is in place on the daily bar chart. March U.S. T Notes closed up 20.0 32nds at 120.07.0 today. Prices closed near the session high today and hit a 3.5- month high. The bulls have the firm overall near-term technical advantage and gained more power today. Prices are in a steep four-week-old uptrend on the daily bar chart.
LIVESTOCK: February live cattle closed up $1.50 at $121.67 today. Prices closed nearer the session high and hit a four-week high today. Bulls have the firm overall near-term technical advantage and gained fresh power today. January feeder cattle closed up $0.20 at $144.70 today. Prices closed nearer the session high today. The feeder cattle market bears still have the overall near-term technical advantage. February lean hogs closed down $1.17 at $65.72 today. Prices closed nearer the session low on more profit taking. The hog market bulls still have the firm overall near-term technical advantage. A bullish symmetrical triangle pattern has formed on the daily bar chart.
METALS: February gold futures closed up $4.20 at $1,243.80 today. Prices closed nearer the session high and hit a five-week high today. The bulls and bears are now on a level overall near-term technical playing field. A price uptrend line is now in place on the daily bar chart. March silver futures closed up $0.111 at $14.61 today. Prices closed near mid-range today and hit a three-week high, on more short covering. The silver bears still have the overall near-term technical advantage. March N.Y. copper closed down 560 points at 275.35 cents today. Prices closed near the session low today. The copper bears have the overall near-term technical advantage.
| | | Top Stocks | | # | symbol | name | last | net | % | volume | score | triangles | | | 1. | AMD | Advanced Micro Devices, Inc | 21.11 | -0.32 | -1.49% | 125,209,689 | +90 |    | Entry Signal | | 2. | CRON | Cronos Group, Inc | 10.73 | +1.82 | +20.43% | 25,664,734 | +90 | | Entry Signal | | 3. | PFE | Pfizer, Inc | 45.165 | -0.825 | -1.81% | 20,020,247 | +90 | | Entry Signal | | 4. | ABX | Barrick Gold Corp | 13.140 | +0.150 | +1.15% | 18,002,444 | +90 | | Entry Signal | | 5. | PBR | Petroleo Brasileiro SA | 14.670 | -0.370 | -2.58% | 17,666,506 | +90 | | Entry Signal | | 6. | AFSI | AmTrust Financial Services, Inc | 14.76 | +0.77 | +5.22% | 17,555,388 | +90 | | Entry Signal | | 7. | NBEV | New Age Beverages Corp | 4.57 | +0.15 | +3.39% | 12,516,116 | +90 | | Entry Signal | | 8. | GM | General Motors Co | 36.52 | -1.93 | -5.25% | 12,093,748 | +90 | | Entry Signal | | 9. | TSRO | TESARO, Inc | 73.76 | +27.99 | +61.15% | 11,883,455 | +90 | | Entry Signal | | 10. | NWL | Newell Brands, Inc | 23.52 | -0.65 | -2.73% | 10,456,475 | +90 | | Entry Signal | | | | | Top Futures | | # | symbol | name | last | net | % | volume | score | triangles | | | 1. | ZB.H19 | T-BONDS Mar 2019 | 142.34375 | +0.18750 | +0.13% | 571,577 | +100 | | Entry Signal | | 2. | TN.H19 | ULTRA 10 YEAR T-NOTES Mar 2019 | 127.625000 | +0.093750 | +0.07% | 315,643 | +100 | | Entry Signal | | 3. | GE.H21 | EURODOLLAR Mar 2021 | 97.085 | +0.020 | +0.02% | 156,886 | +100 | | Entry Signal | | 4. | GE.M21 | EURODOLLAR Jun 2021 | 97.105 | +0.020 | +0.02% | 149,428 | +100 | | Entry Signal | | 5. | GE.U21 | EURODOLLAR Sep 2021 | 97.115 | +0.020 | +0.02% | 145,685 | +100 | | Entry Signal | | 6. | GE.Z21 | EURODOLLAR Dec 2021 | 97.105 | +0.015 | +0.02% | 139,506 | +100 | | Entry Signal | | 7. | ZN.Z18 | 10 YEAR T-NOTES Dec 2018 | 120.140625 | +0.046875 | +0.04% | 119,718 | +100 | | Entry Signal | | 8. | ZS.F19 | SOYBEANS Jan 2019 | 911.25 | -0.50 | -0.06% | 96,592 | +100 | | Entry Signal | | 9. | GE.H22 | EURODOLLAR Mar 2022 | 97.105 | +0.010 | +0.01% | 69,382 | +100 | | Entry Signal | | 10. | GE.M22 | EURODOLLAR Jun 2022 | 97.105 | +0.010 | +0.01% | 67,104 | +100 | | Entry Signal | |
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