Summary
The Dow Future has climbed 176 points to 24775. The US Dollar Index edged higher by 0.306 points to 97.365. Gold has retreated 7.15 dollars to 1214.80. Silver has slipped 0.0875 dollars to 14.1490. The Dow Industrials trended higher 108.49 points, at 24748.73, while the S&P 500 advanced 8.75 points, last seen at 2682.20. The Nasdaq Composite declined 2.50 points to 7079.35. Streaming charts of these markets are available at MarketClub
CURRENCIES: The March Euro currency closed down 38 points at 1.1406 today. Prices closed nearer the session low today. Bears have the firm overall near- term technical advantage. The March Japanese yen closed down 150 points at .88700 today. Prices closed near the session low today. Bears have the solid overall near-term technical advantage. The March Swiss franc closed down 5 points at 1.0119 today. Prices closed near mid-range today. The Swissy bears have the firm overall near-term technical advantage. The March Canadian dollar closed down 37 points at .7533 today. Prices closed nearer the session low and hit a 17- month low today. The bears have the solid overall near-term technical advantage. Prices are in a seven-week-old downtrend on the daily bar chart. The March British pound closed down 76 points at 1.2808 today. Prices closed near the session low and hit a four- week low today. The bears have the solid overall near-term technical advantage. The March U.S. dollar index closed up 0.291 at 96.720 today. Prices closed nearer the session high. The bulls have the solid overall near-term technical advantage.
ENERGIES: January Nymex crude oil closed down $0.82 at $50.77 today. Prices closed nearer the session low today after hitting a 13-month low on Monday. The bears have the solid overall near-term technical advantage. A steep seven- week-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 down 67 points at $1.8805 today. Prices closed near mid-range and hit a 9.5-month low today. The bears have the solid overall near-term technical advantage. A seven-week-old downtrend is in place on the daily bar chart. January (RBOB) unleaded gasoline closed down 238 points at $1.3994 today. Prices closed nearer the session low and are back close to last week's 13-month low. The bears have the solid overall near-term technical advantage. A steep seven- week-old downtrend is in place on the daily bar chart. January natural gas closed down 0.9 cents at $4.286 today. Prices closed nearer the session high today. Bulls have the overall near-term technical advantage amid recent very choppy and volatile trading.
SOFTS: March sugar closed down 14 points at 12.34 cents today. Prices closed nearer the session low and hit a seven-week low. The sugar bears have the overall near-term technical advantage. Prices are in a steep four-week-old downtrend on the daily bar chart. March coffee closed up 235 points at 113.15 cents today. Prices closed nearer the session high on short covering after hitting a seven-week low on Monday. Bears have the overall near-term technical advantage. Prices are in a five-week-old downtrend on the daily bar chart and have seen a downside breakout from a bearish symmetrical triangle pattern on the daily chart. March cocoa closed up $22 at $2,138 a ton today. Prices closed near mid-range on short covering after hitting a six-week low on Monday. The cocoa bears have the solid overall near-term technical advantage. March cotton closed down 102 points at 77.56 cents today. Prices closed near the session low today. Prices Monday hit a seven-week low. The cotton bears have the firm overall near-term technical advantage. January orange juice closed down 95 points at $1.3910 today. Prices closed nearer the session low and scored a bearish "outside day" down on the daily bar chart. Bears have the overall near-term technical advantage. January lumber futures closed down $4.20 at $351.50 today. Prices closed near the session low today. The bears have the overall near-term technical advantage, but a price uptrend still in place suggests a market bottom is in place.
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GRAINS: March corn futures closed up 1 1/4 cents at $3.69 1/4 today. Prices closed near mid-range today on short covering after hitting a two-month low on Monday. Corn bears still have the firm overall near-term technical advantage and have momentum on their side. January soybeans closed up 13 3/4 cents at $8.76 a bushel today. Prices closed nearer the session high on short covering. Soybean bears still have the overall near-term technical advantage. March soybean meal closed up $1.00 at $308.80 today. Prices closed nearer the session high on short covering. The bears have the solid overall near-term technical advantage. March bean oil closed up 24 points at 27.68 cents today. Prices closed nearer the session high on short covering after hitting a contract low early on today. The bears have the solid overall near-term technical advantage. March SRW wheat closed down 8 1/4 cents at $5.05 3/4 today. Prices closed nearer the session low today and scored a bearish "outside day" down on the daily bar chart. SRW bears have the firm overall near-term technical advantage. March HRW wheat closed down 7 1/4 cents at $4.82 1/2 today. Prices closed near the session low and hit another contract low today. The bears have the solid overall near-term technical advantage.
GENERAL STOCK MARKET COMMENT: The U.S. stock indexes closed firmer today. European stock markets were also mostly lower overnight. Asian stock indexes were mostly firmer. Focus this week is on the upcoming Group of 20 meetings that begin late this week in Argentina and will feature a face-to-face meeting between the U.S. and Chinese presidents on Saturday. The world's two largest economies are locked in a heated trade war that appears to show no signs of de-escalating. President Trump made more hardline comments on the matter Monday. There is general agreement that the trade war is hurting China's economy much more than the U.S. economy. There is talk in the marketplace recently that the U.S. Federal Reserve may take a more dovish tone on its monetary policy due to notions the recent strong U.S. economic growth may be quickly decelerating. The Federal Open Market Committee meets to discuss monetary policy in late December. It's widely expected the Fed will slightly raise its key Fed funds target range in December. However, a commentary in the Wall Street Journal today said Fed monetary policy will be "wide open" for 2019, which could lead to more uncertainty in the marketplace. Nymex crude oil futures prices were lower today. Prices Monday hit a 13-month low of $50.10. Crude prices are down around 20% following the recent sharp declines. A key OPEC oil cartel meeting is scheduled for next week. The other key outside market today saw the U.S. dollar index trading higher and not far below this month's 1.5-year high.
March U.S. T Notes closed up 3.5 32nds at 119.05.0 today. Prices closed near the session high today. The bears still have the overall near-term technical advantage. However, recent price gains suggest a near-term market bottom is in place. March U.S. T-Bonds closed up 10/32 at 139 15/32 today. Prices closed near the session high and closed at a seven- week high close today. The bond market bears still have the overall near-term technical advantage. However, recent gains suggest a market bottom is in place.
LIVESTOCK: February live cattle closed down $0.05 at $120.60 today. Prices closed nearer the session high today. Bulls still have the firm overall near-term technical advantage. January feeder cattle closed down $0.40 at $148.75 today. Prices closed near mid-range today. The feeder cattle market bulls and bears are on a level overall near-term technical playing field. February lean hogs closed down $0.125 at $65.425 today. Prices closed nearer the session high. The hog market bulls still have the firm overall near-term technical advantage as the African swine fever epidemic spreads in China.
METALS: February gold futures closed down $9.50 at $1,219.20 today. Prices closed nearer the session low today. The bears have the overall near-term technical advantage and gained downside momentum today. March silver futures closed down $0.143 at $14.20 today. Prices closed near the session low today. The silver bears have the solid overall near-term technical advantage. March N.Y. copper closed down 420 points at 273.10 cents today. Prices closed near the session low and hit a two- week low today. The copper bears have the overall near-term technical advantage.
| | | Top Stocks | | # | symbol | name | last | net | % | volume | score | triangles | | | 1. | ASNS | ARSANIS | 4.1283 | +2.9683 | +255.89% | 43,152,759 | +100 |    | Entry Signal | | 2. | GM | GENERAL MOTORS | 36.73 | -0.92 | -2.44% | 23,931,479 | +90 | | Entry Signal | | 3. | S | SPRINT | 6.180 | -0.010 | -0.16% | 9,516,749 | +90 | | Entry Signal | | 4. | ARRS | ARRIS INTL PLC ORDINARY SHARES | 30.795 | -0.125 | -0.40% | 9,159,709 | +90 | | Entry Signal | | 5. | NIO | NIO INC | 7.479 | +0.109 | +1.48% | 8,809,405 | +90 | | Entry Signal | | 6. | JPM | JP MORGAN CHASE | 109.6881 | +0.4281 | +0.39% | 8,437,471 | +100 | | Entry Signal | | 7. | SAVE | SPIRIT AIRLINES | 58.75 | +7.77 | +15.24% | 7,748,762 | +90 | | Entry Signal | | 8. | COL | ROCKWELL COLLINS | 141.37 | -0.26 | -0.18% | 6,496,369 | +90 | | Entry Signal | | 9. | MDLZ | MONDELEZ INTL | 44.515 | +0.565 | +1.29% | 5,553,902 | +100 | | Entry Signal | | 10. | MITL | MITEL NETWORKS | 11.08 | +0.01 | +0.09% | 5,191,385 | +100 | | Entry Signal | |
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