Summary
The Dow Future has gained 263 points to 24523. The US Dollar Index moved higher by 0.143 points to 97.087. Gold has retreated 1.05 dollars to 1222.69. Silver has retreated 0.0825 dollars to 14.2470. The Dow Industrials moved up 354.29 points, at 24640.24, while the S&P 500 edged higher by 40.89 points, last seen at 2673.45. The Nasdaq Composite advanced 142.27 points to 7081.25. Streaming charts of these markets are available at MarketClub
CURRENCIES: The March Euro currency closed down 9 points at 1.1444 today. Prices closed near the session low today. Bears still have the firm overall near-term technical advantage. The March Japanese yen closed down 655 points at .88855 today. Prices closed near the session low today. Bears have the solid overall near-term technical advantage. The March Swiss franc closed down 15 points at 1.0124 today. Prices closed near the session low today. The Swissy bears have the firm overall near-term technical advantage. The March Canadian dollar closed down 24 points at .7567 today. Prices closed nearer the session low. 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 2 points at 1.2882 today. Prices closed near the session low today. The bears have the solid overall near-term technical advantage. The March U.S. dollar index closed up 0.135 at 96.410 today. Prices closed near the session high. The bulls have the solid overall near-term technical advantage.
ENERGIES: January Nymex crude oil closed up $1.16 at $51.58 today. Prices closed nearer the session today after hitting a 13-month low overnight. The bears still 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 up 166 points at $1.8868 today. Prices closed near mid-range on tepid short covering after hitting a 7.5-month low last Friday. The bears still have the firm overall near-term technical advantage. A seven- week-old downtrend is in place on the daily bar chart. January (RBOB) unleaded gasoline closed up 472 points at $1.4232 today. Prices closed near mid-range on short covering after hitting a 13-month low last Friday. 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 6.2 cents at $4.294 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 up 1 point at 12.48 cents today. Prices closed nearer the session low. Prices Friday hit a six-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 45 points at 111.40 cents today. Prices closed nearer the session high after hitting a seven-week low early on today. 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 $1 at $2,123 a ton today. Prices closed near mid-range and hit a six-week low today. The cocoa bears have the solid overall near-term technical advantage. March cotton closed up 53 points at 77.75 cents today. Prices closed near mid-range today after hitting a seven- week low early on, on short covering. The cotton bears have the firm overall near-term technical advantage. January orange juice closed down 165 points at $1.3995 today. Prices closed nearer the session low on a corrective pullback after hitting a four-week high on Friday. Bears have the overall near-term technical advantage. January lumber futures closed down $7.70 at $365.60 today. Prices closed nearer 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 down 2 1/2 cents at $3.68 today. Prices closed nearer the session low and hit a two-month low today. Corn bears have the firm overall near- term technical advantage and have momentum on their side. January soybeans closed down 18 1/2 cents at $8.62 1/2 a bushel today. Prices closed nearer the session lower and hit a three-week low today. Soybean bears have the firm overall near-term technical advantage and gained fresh power today. March soybean meal closed down $2.60 at $307.80 today. Prices closed near mid-range and hit a nine-week low today. The bears have the solid overall near-term technical advantage. March bean oil closed down 64 points at 27.45 cents today. Prices closed near the session low and hit a contract low today. The bears have the solid overall near-term technical advantage. March SRW wheat closed up 6 3/4 cents at $5.14 today. Prices closed near the session high today on short covering. SRW bears still have the firm overall near-term technical advantage. March HRW wheat closed up 4 cents at $4.90 today. Prices closed nearer the session high on short covering after hitting another contract low early on today. The bears still have the solid overall near-term technical advantage.
GENERAL STOCK MARKET COMMENT: The U.S. stock indexes closed solidly higher today on a corrective bounce. It still appears the U.S. stock indexes have put in at least near- term tops, if not major market tops. European stock markets were mostly firmer overnight, as trader and investor appetites are more upbeat following a Brexit deal between the U.K. and the EU that appears a bit closer to being agreed upon, but still needs U.K. Parliament approval. U.S. stock indexes are pointed solidly higher at the New York openings, on corrective rebounds from recent strong selling pressure. Focus this week will be on the upcoming Group of 20 meeting later this week in Argentina that will feature a face-to-face meeting between the U.S. and Chinese presidents. The world's two largest economies are locked in a heated trade war that appears to show no signs of de- escalating. There is also talk in the marketplace just 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 backing off. The Federal Open Market Committee meets to discuss monetary policy in December.
March U.S. T-Bonds closed down 6/32 at 139 6/32 today. Prices closed near mid-range and saw a corrective pullback after hitting a seven-week high on Friday. The bond market bears still have the overall near-term technical advantage. However, recent gains suggest a market bottom is in place. March U.S. T Notes closed down 3.5 32nds at 119.00.5 today. Prices closed near mid-range and saw a corrective pullback after hitting a two-month high on Friday. The bears still have the overall near-term technical advantage. However, recent price gains suggest a near-term market bottom is in place.
LIVESTOCK: February live cattle closed down $0.47 at $120.45 today. Prices closed nearer the session low on a corrective pullback from recent gains. Bulls still have the firm overall near-term technical advantage. January feeder cattle closed down $0.42 at $148.95 today. Prices closed nearer the session low today. The feeder cattle market bulls and bears are on a level overall near- term technical playing field. February lean hogs closed down $2.12 at $65.70 today. Prices closed nearer the session low on more profit taking after hitting a contract high last week. The hog market bulls still have the firm overall near-term technical advantage as the African swine fever epidemic spreads in China.
METALS: December gold futures closed down $0.70 at $1,222.50 today. Prices closed nearer the session low today. The bears still have the overall near-term technical advantage. However, recent price action begins to suggest a near-term market bottom is in place. December silver futures closed down $0.043 at $14.20 today. Prices closed near the session low today. The silver bears have the firm overall near-term technical advantage. December N.Y. copper closed down 125 points at 275.45 cents today. Prices closed near mid-range today. The copper bears have the overall near-term technical advantage.
| | | Top Stocks | | # | symbol | name | last | net | % | volume | score | triangles | | | 1. | GM | GENERAL MOTORS | 37.645 | +1.715 | +4.77% | 27,106,241 | +90 |    | Entry Signal | | 2. | ANY | SPHERE 3D CORP COMMON SHARES | 5.985 | +0.395 | +7.07% | 16,574,116 | +90 | | Entry Signal | | 3. | CVS | CVS HEALTH CORP | 77.81 | +2.63 | +3.50% | 13,414,674 | +100 | | Entry Signal | | 4. | ABX | BARRICK GOLD | 13.010 | -0.080 | -0.61% | 11,854,599 | +90 | | Entry Signal | | 5. | NIO | NIO INC | 7.375 | -0.085 | -1.14% | 11,767,026 | +100 | | Entry Signal | | 6. | AET | AETNA | 210.05 | +4.69 | +2.28% | 7,320,056 | +90 | | Entry Signal | | 7. | COL | ROCKWELL COLLINS | 141.37 | -0.26 | -0.18% | 6,496,369 | +90 | | Entry Signal | | 8. | S | SPRINT | 6.175 | +0.055 | +0.90% | 5,183,210 | +90 | | Entry Signal | | 9. | FL | FOOT LOCKER | 55.34 | +2.38 | +4.49% | 5,062,659 | +100 | | Entry Signal | | 10. | BIOS | BIOSCRIP | 3.70 | +0.47 | +14.55% | 4,256,991 | +100 | | Entry Signal | |
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