Thursday, December 17, 2009
8:30 AM ET. Dec 12 Jobless Claims
Weekly Jobless Claims (Expected 465K; previous 474K)
Weekly Jobless Claims Net Change (expected -9K; previous +17K)
Cont Jobless Claims (prior week) (previous 5157000)
Cont Jobless Claims Net Chg (prior week) (previous ???303000)
10:00 AM ET. Dec 5 DJ-BTMU Economic Barometer
DJ-BTMU Business Barometer (previous +0.1%)
DJ-BTMU Business Barometer (52 Wk) (previous -5.2%)
10:00 AM ET. Dec Philadelphia Fed Manufacturing Index
Business Activity (expected 16.4; previous 16.7)
Prices Paid (previous 14.9)
Employment (previous -0.5)
New Orders (previous 14.8)
Prices Received (previous -1.5)
Delivery Times (previous -12.7)
Inventories (previous -17.3)
Shipments (previous 15.7)
10:00 AM ET. Nov Conference Board Leading Indicators
Leading Index (expected +0.7%; previous +0.3%)
Coincident Index (previous 0%)
Lagging Index (previous -0.2%)
10:30 AM ET. Dec 11 EIA Natural Gas Inventories, in billion cubic feet
Total Working Gas in Storage (previous 3773)
Total Working Gas in Storage (Net Change) (previous ???64)
4:30 PM ET. Dec 16 Foreign Central Bank Holdings, in dollars
Foreign US Debt Holdings (previous 2.94T)
US Foreign Agency Holdings (previous 771.69B)
Foreign Treasury Holdings (previous 2.17T)
4:30 PM ET. Dec 16 Fed Discount Window Borrowings, in dollars
Primary Credit Borrowings (previous 19.09B)
Primary Credit Borrowings W/E Daily Avg. (previous 19.35B)
Primary Dealer Borrowings (previous 0B)
Primary Dealer Borrowings W/E Daily Avg. (previous 0B)
Discount Window Borrowings (previous 84.3B)
Discount Window Borrowings W/E Daily Avg. (previous 84.48B)
4:30 PM ET. Dec 7 Money Supply
Friday, December 18, 2009
N/A No major economic indicators scheduled.
Key Events and Commentary available earlier every morning, via MarketClub (http://www.marketclub.com/)
The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes
GENERAL STOCK MARKET COMMENT: The U.S. stock indexes
closed lower today on profit-taking pressure from recent
gains and amid a stronger U.S. dollar. Trading has been
choppy and sideways for four weeks. While the bulls have
the overall near-term technical advantage, they are now
fading a bit and do not want to see bearish weekly low closes on Friday.
NTEREST RATES http://quotes.ino.com/exchanges/?c=interest
March U.S. T-Bonds closed up 1 17/32 at 119 1/32 today.
Prices closed near the session high today and were
supported by a stronger U.S. dollar and weaker U.S. stock
indexes. Bulls gained some fresh upside technical
momentum today but need to produce a bullish weekly high
close on Friday to suggest that a near-term market low is
in place. The next downside price objective for the T-
Bond bears is closing prices below solid technical
support at last week's low of 117 5/32.
ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy
ENERGIES: January crude oil closed steady at $72.66 a
barrel today. Prices closed nearer the session high
today. Gains were limited by a stronger U.S. dollar and
weaker U.S. stock indexes. Crude prices are still in a
two-month-old downtrend on the daily bar chart. The next
downside price objective for the crude oil bears is to
produce a close below solid technical support at this
week's low of $68.59.
January heating oil closed down 92 points at $1.9566
today. Prices closed near mid-range today. Prices are
still in a two-month-old downtrend on the daily bar
chart. The bulls' next upside price objective is closing
prices above solid technical resistance at $2.0500.
January (RBOB) unleaded gasoline closed down 225 points
at $1.8514 today. Prices closed near mid-range today.
Bears still have the near-term technical advantage. The
next upside price objective for the bulls is closing
prices above solid technical resistance at $1.9500.
January natural gas closed up 30.5 cents at $5.767 today.
Prices closed nearer the session high today and hit
another fresh six-week high. A bullish weekly storage
report boosted nat gas today, along with recent cold U.S.
weather and more in the forecast. Bulls have gained solid
upside near-term technical momentum recently. Prices are
in a steep two-week-old uptrend on the daily bar chart.
CURRENCIES
CURRENCIES: The March Euro currency
closed down 167 points at 1.4345 today. Prices closed
nearer the session low again today and hit a fresh three-
month low. Serious near-term chart damage has occurred
recently. Bears have recently gained downside technical
momentum to suggest that a near-term market top is in
place.
The March Japanese yen closed down 5 points at 1.1119
today. Prices closed near mid-range today. Prices are
still in a three-week-old downtrend on the daily bar
chart. Bulls' next upside price objective is closing
prices above solid resistance at last week's high of
1.1453.
The March Swiss franc closed down 66 points at .9559
today. Prices closed near mid-range today and hit a fresh
three-month low. Bears have downside technical momentum
and gained more today. The next upside price objective
for the bulls is closing prices above solid resistance at
this week's high of .9720.
The March Canadian dollar closed down 66 points at .9341
today. Prices closed nearer the session low today and
closed at a fresh four-week low close. Bulls' next upside
price objective is producing a close above solid chart
resistance at last week's high of .9545.
The March British pound closed down 146 points at 1.6155
today. Prices closed nearer the session low today and hit
a fresh two-month low. Bears have the overall near-term
technical advantage and gained fresh downside momentum
today. Prices are in a four-week-old downtrend on the
daily bar chart.
The March U.S. dollar index closed up 76 points at 78.10
today. Prices closed near the session high and hit a
fresh three-month high today. The bulls have recently
gained good upside near-term technical momentum to
suggest that a near-term low is in place.
NEW! INO TV - http://tv.ino.com/ - Watch From Your Computer - Avoiding Common Trading Pitfalls by Mark Cook. In this fast-paced video, trading champion Mark Cook shares his ideas for making winning trades. As the first place finisher in the options division of the U.S. Investing Championship, Mark credits research, planning and an attention to detail for his astounding 536% return. http://tv.ino.com/
PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals
METALS: February gold futures closed down $34.10 at
$1,102.10 today. Prices closed near the session low, hit
a fresh six-week low and scored a bearish "outside day"
down on the daily bar chart today. A stronger U.S. dollar
sunk gold today. More near-term chart damage was
inflicted in gold today, to better suggest that a near-
term market top is in place.
March silver futures closed down 45.8 cents at $17.235 an
ounce today. Prices closed nearer the session low today.
The key "outside markets" were in a bearish posture for
silver today, as the U.S. dollar was stronger, while
crude oil and U.S. stock indexes were weaker. Bulls faded
today and do not want to see a bearish weekly low close
on Friday.
March N.Y. copper closed down 855 points at 312.00 cents
today. Prices closed near the session low today on profit
taking. The key "outside markets" were in a bearish
posture for copper today, as the U.S. dollar was
stronger, while crude oil and U.S. stock indexes were
weaker. Copper bulls still have the overall near-term
technical advantage. However, bulls do not want to see a
bearish weekly low close on Friday.
FOOD & FIBER http://quotes.ino.com/exchanges/?c=food
SOFTS: March sugar closed up 69 points at 26.63 cents
today. Prices closed near the session high today and hit
a fresh contract high and 28-year high. Sugar powered
higher today despite bearish "outside markets" that
included a stronger U.S. dollar and weaker crude oil and
stock index prices that put downside pressure on most
other commodity markets. This is another bullish clue for
sugar. The bulls have upside near-term technical
momentum.
March coffee closed down 200 points at 146.30 cents
today. Prices closed near mid-range again today and were
pressured by profit taking. The key "outside markets"
were in a bearish posture for coffee today, as the U.S.
dollar was stronger, while crude oil and U.S. stock
indexes were weaker. Coffee bulls still have the overall
near-term technical advantage.
March cocoa closed down $48 at $3,450 today. Prices
closed near mid-range today and were pressured on profit
taking. The key "outside markets" were in a bearish
posture for cocoa today, as the U.S. dollar was stronger,
while crude oil and U.S. stock indexes were weaker.
Bullish fundamentals that include a short crop in leading
cocoa producing nation Ivory Coast have been supporting
the major bull run. Cocoa bulls still have the overall
technical advantage.
March cotton closed down 51 points at 76.74 cents
today. Prices closed nearer the session high today
and were pressured on profit taking. The key
"outside markets" were in a bearish posture for
cotton today, as the U.S. dollar was stronger,
while crude oil and U.S. stock indexes were weaker.
Cotton bulls still have the solid near-term
technical advantage.
January orange juice closed up 15 points at $1.2900
today. Prices closed near the session high today. Gains
were limited by bearish "outside markets" today. FCOJ
bulls still have the near-term technical advantage. The
next downside technical objective for the FCOJ bears is
to produce a close below solid technical support at
$1.2500.
January lumber futures closed down $1.00 at $211.00
today. Prices closed near the session high again today
after hitting a fresh five-week low early on. Serious
near-term chart damage has occurred in lumber recently.
Lumber bears have the near-term technical advantage. The
next upside technical objective for the lumber bulls is
pushing and closing prices above solid technical
resistance at $225.00.
Trade Stocks, Futures, And Forex With Up To 80% Accuracy
Complimentary Market Forecasts. Reports include:
-Trend Forecast up to 80% accurate for 1-3 days ahead
-Tomorrow's Forecasted Trading Range
-Leading Indicators, not lagging
http://www.ino.com/specials/13B3C4/mkttech/80Percent.html
GRAINS http://quotes.ino.com/exchanges/?c=grains
GRAINS: March corn futures closed down 14 3/4 cents at
$3.95 1/2 today. Prices closed nearer the session low
today. The key "outside markets" were in a bearish
posture for corn today, as the U.S. dollar was stronger,
while crude oil and U.S. stock indexes were weaker.
Traders ignored bullish weekly export sales data for corn
today, focusing instead on the outside markets. However,
recent strong export demand for U.S. corn and 10% of the
U.S. crop still standing in the fields should limit the
downside for corn in the near term.
January soybeans closed down 38 1/2 cents at $10.21 a
bushel today. Prices closed near the session low today
and hit a fresh four-week low. The key "outside markets"
were in a bearish posture for soybeans today, as the U.S.
dollar was stronger, while crude oil and U.S. stock
indexes were weaker. No serious chart damage occurred in
beans today, but follow-through selling pressure and a
bearish weekly low close on Friday would produce near-
term technical damage. Traders ignored more bullish U.S.
export sales data for soybeans in today's weekly export
sales report.
March soybean meal closed down $10.30 at $302.80 today.
Prices closed near the session low today. Bulls still
have the overall near-term technical advantage, but did
fade today. Prices are still in a nine-week-old uptrend
on the daily bar chart.
March bean oil closed down 170 points at 39.05 cents
today. Prices closed near the session low and hit a fresh
six-week low today. The key "outside markets" were in a
bearish posture for bean oil today, as the U.S. dollar
was stronger, while crude oil and U.S. stock indexes were
weaker. Price action today did score a bearish downside
"breakout" from the recent trading range at higher price
levels. Bean oil bears now have the slight near-term
technical advantage.
March Chicago SRW wheat closed down 18 3/4 cents at $5.18
1/2 today. Prices closed nearer the session low today and
hit a fresh six-week low. The key "outside markets" were
in a bearish posture for wheat today, as the U.S. dollar
was stronger, while crude oil and U.S. stock indexes were
weaker. Wheat bears have the overall near-term technical
advantage and gained more downside momentum today.
LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock
LIVESTOCK: February live cattle closed down $0.35 at
$84.55 today. Prices closed nearer the session low today.
The key "outside markets" were in a bearish posture for
cattle today, as the U.S. dollar was stronger, while
crude oil and U.S. stock indexes were weaker. Bears still
have the overall near-term technical advantage. A two-
month-old downtrend is in place on the daily chart.
January feeder cattle closed up $1.12 at $93.97 today.
Prices gapped higher on the daily bar chart and closed
near the session high today. Prices also hit a fresh two-
week high. While bears still have the slight overall
near-term technical advantage, the bulls have gained
upside momentum recently.
February lean hogs closed down $1.27 at $65.55 today.
Prices closed nearer the session low today on profit-
taking pressure. The key "outside markets" were in a
bearish posture for hogs today, as the U.S. dollar was
stronger, while crude oil and U.S. stock indexes were
weaker. Hog bulls still have the overall technical
advantage.
February pork bellies closed down $2.55 at $88.00 today.
Prices closed nearer the session low and were pressured
on more profit taking from recent strong gains. Bulls
still have the near-term technical advantage but have
faded. The next upside price objective for the bulls is
pushing and closing prices above solid technical
resistance at the June high of $95.00.
March U.S. T-Bonds closed up 1 17/32 at 119 1/32 today.
Prices closed near the session high today and were
supported by a stronger U.S. dollar and weaker U.S. stock
indexes. Bulls gained some fresh upside technical
momentum today but need to produce a bullish weekly high
close on Friday to suggest that a near-term market low is
in place. The next downside price objective for the T-
Bond bears is closing prices below solid technical
support at last week's low of 117 5/32.
ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy
ENERGIES: January crude oil closed steady at $72.66 a
barrel today. Prices closed nearer the session high
today. Gains were limited by a stronger U.S. dollar and
weaker U.S. stock indexes. Crude prices are still in a
two-month-old downtrend on the daily bar chart. The next
downside price objective for the crude oil bears is to
produce a close below solid technical support at this
week's low of $68.59.
January heating oil closed down 92 points at $1.9566
today. Prices closed near mid-range today. Prices are
still in a two-month-old downtrend on the daily bar
chart. The bulls' next upside price objective is closing
prices above solid technical resistance at $2.0500.
January (RBOB) unleaded gasoline closed down 225 points
at $1.8514 today. Prices closed near mid-range today.
Bears still have the near-term technical advantage. The
next upside price objective for the bulls is closing
prices above solid technical resistance at $1.9500.
January natural gas closed up 30.5 cents at $5.767 today.
Prices closed nearer the session high today and hit
another fresh six-week high. A bullish weekly storage
report boosted nat gas today, along with recent cold U.S.
weather and more in the forecast. Bulls have gained solid
upside near-term technical momentum recently. Prices are
in a steep two-week-old uptrend on the daily bar chart.
CURRENCIES
CURRENCIES: The March Euro currency
closed down 167 points at 1.4345 today. Prices closed
nearer the session low again today and hit a fresh three-
month low. Serious near-term chart damage has occurred
recently. Bears have recently gained downside technical
momentum to suggest that a near-term market top is in
place.
The March Japanese yen closed down 5 points at 1.1119
today. Prices closed near mid-range today. Prices are
still in a three-week-old downtrend on the daily bar
chart. Bulls' next upside price objective is closing
prices above solid resistance at last week's high of
1.1453.
The March Swiss franc closed down 66 points at .9559
today. Prices closed near mid-range today and hit a fresh
three-month low. Bears have downside technical momentum
and gained more today. The next upside price objective
for the bulls is closing prices above solid resistance at
this week's high of .9720.
The March Canadian dollar closed down 66 points at .9341
today. Prices closed nearer the session low today and
closed at a fresh four-week low close. Bulls' next upside
price objective is producing a close above solid chart
resistance at last week's high of .9545.
The March British pound closed down 146 points at 1.6155
today. Prices closed nearer the session low today and hit
a fresh two-month low. Bears have the overall near-term
technical advantage and gained fresh downside momentum
today. Prices are in a four-week-old downtrend on the
daily bar chart.
The March U.S. dollar index closed up 76 points at 78.10
today. Prices closed near the session high and hit a
fresh three-month high today. The bulls have recently
gained good upside near-term technical momentum to
suggest that a near-term low is in place.
NEW! INO TV - http://tv.ino.com/ - Watch From Your Computer - Avoiding Common Trading Pitfalls by Mark Cook. In this fast-paced video, trading champion Mark Cook shares his ideas for making winning trades. As the first place finisher in the options division of the U.S. Investing Championship, Mark credits research, planning and an attention to detail for his astounding 536% return. http://tv.ino.com/
PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals
METALS: February gold futures closed down $34.10 at
$1,102.10 today. Prices closed near the session low, hit
a fresh six-week low and scored a bearish "outside day"
down on the daily bar chart today. A stronger U.S. dollar
sunk gold today. More near-term chart damage was
inflicted in gold today, to better suggest that a near-
term market top is in place.
March silver futures closed down 45.8 cents at $17.235 an
ounce today. Prices closed nearer the session low today.
The key "outside markets" were in a bearish posture for
silver today, as the U.S. dollar was stronger, while
crude oil and U.S. stock indexes were weaker. Bulls faded
today and do not want to see a bearish weekly low close
on Friday.
March N.Y. copper closed down 855 points at 312.00 cents
today. Prices closed near the session low today on profit
taking. The key "outside markets" were in a bearish
posture for copper today, as the U.S. dollar was
stronger, while crude oil and U.S. stock indexes were
weaker. Copper bulls still have the overall near-term
technical advantage. However, bulls do not want to see a
bearish weekly low close on Friday.
FOOD & FIBER http://quotes.ino.com/exchanges/?c=food
SOFTS: March sugar closed up 69 points at 26.63 cents
today. Prices closed near the session high today and hit
a fresh contract high and 28-year high. Sugar powered
higher today despite bearish "outside markets" that
included a stronger U.S. dollar and weaker crude oil and
stock index prices that put downside pressure on most
other commodity markets. This is another bullish clue for
sugar. The bulls have upside near-term technical
momentum.
March coffee closed down 200 points at 146.30 cents
today. Prices closed near mid-range again today and were
pressured by profit taking. The key "outside markets"
were in a bearish posture for coffee today, as the U.S.
dollar was stronger, while crude oil and U.S. stock
indexes were weaker. Coffee bulls still have the overall
near-term technical advantage.
March cocoa closed down $48 at $3,450 today. Prices
closed near mid-range today and were pressured on profit
taking. The key "outside markets" were in a bearish
posture for cocoa today, as the U.S. dollar was stronger,
while crude oil and U.S. stock indexes were weaker.
Bullish fundamentals that include a short crop in leading
cocoa producing nation Ivory Coast have been supporting
the major bull run. Cocoa bulls still have the overall
technical advantage.
March cotton closed down 51 points at 76.74 cents
today. Prices closed nearer the session high today
and were pressured on profit taking. The key
"outside markets" were in a bearish posture for
cotton today, as the U.S. dollar was stronger,
while crude oil and U.S. stock indexes were weaker.
Cotton bulls still have the solid near-term
technical advantage.
January orange juice closed up 15 points at $1.2900
today. Prices closed near the session high today. Gains
were limited by bearish "outside markets" today. FCOJ
bulls still have the near-term technical advantage. The
next downside technical objective for the FCOJ bears is
to produce a close below solid technical support at
$1.2500.
January lumber futures closed down $1.00 at $211.00
today. Prices closed near the session high again today
after hitting a fresh five-week low early on. Serious
near-term chart damage has occurred in lumber recently.
Lumber bears have the near-term technical advantage. The
next upside technical objective for the lumber bulls is
pushing and closing prices above solid technical
resistance at $225.00.
Trade Stocks, Futures, And Forex With Up To 80% Accuracy
Complimentary Market Forecasts. Reports include:
-Trend Forecast up to 80% accurate for 1-3 days ahead
-Tomorrow's Forecasted Trading Range
-Leading Indicators, not lagging
http://www.ino.com/specials/13B3C4/mkttech/80Percent.html
GRAINS http://quotes.ino.com/exchanges/?c=grains
GRAINS: March corn futures closed down 14 3/4 cents at
$3.95 1/2 today. Prices closed nearer the session low
today. The key "outside markets" were in a bearish
posture for corn today, as the U.S. dollar was stronger,
while crude oil and U.S. stock indexes were weaker.
Traders ignored bullish weekly export sales data for corn
today, focusing instead on the outside markets. However,
recent strong export demand for U.S. corn and 10% of the
U.S. crop still standing in the fields should limit the
downside for corn in the near term.
January soybeans closed down 38 1/2 cents at $10.21 a
bushel today. Prices closed near the session low today
and hit a fresh four-week low. The key "outside markets"
were in a bearish posture for soybeans today, as the U.S.
dollar was stronger, while crude oil and U.S. stock
indexes were weaker. No serious chart damage occurred in
beans today, but follow-through selling pressure and a
bearish weekly low close on Friday would produce near-
term technical damage. Traders ignored more bullish U.S.
export sales data for soybeans in today's weekly export
sales report.
March soybean meal closed down $10.30 at $302.80 today.
Prices closed near the session low today. Bulls still
have the overall near-term technical advantage, but did
fade today. Prices are still in a nine-week-old uptrend
on the daily bar chart.
March bean oil closed down 170 points at 39.05 cents
today. Prices closed near the session low and hit a fresh
six-week low today. The key "outside markets" were in a
bearish posture for bean oil today, as the U.S. dollar
was stronger, while crude oil and U.S. stock indexes were
weaker. Price action today did score a bearish downside
"breakout" from the recent trading range at higher price
levels. Bean oil bears now have the slight near-term
technical advantage.
March Chicago SRW wheat closed down 18 3/4 cents at $5.18
1/2 today. Prices closed nearer the session low today and
hit a fresh six-week low. The key "outside markets" were
in a bearish posture for wheat today, as the U.S. dollar
was stronger, while crude oil and U.S. stock indexes were
weaker. Wheat bears have the overall near-term technical
advantage and gained more downside momentum today.
LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock
LIVESTOCK: February live cattle closed down $0.35 at
$84.55 today. Prices closed nearer the session low today.
The key "outside markets" were in a bearish posture for
cattle today, as the U.S. dollar was stronger, while
crude oil and U.S. stock indexes were weaker. Bears still
have the overall near-term technical advantage. A two-
month-old downtrend is in place on the daily chart.
January feeder cattle closed up $1.12 at $93.97 today.
Prices gapped higher on the daily bar chart and closed
near the session high today. Prices also hit a fresh two-
week high. While bears still have the slight overall
near-term technical advantage, the bulls have gained
upside momentum recently.
February lean hogs closed down $1.27 at $65.55 today.
Prices closed nearer the session low today on profit-
taking pressure. The key "outside markets" were in a
bearish posture for hogs today, as the U.S. dollar was
stronger, while crude oil and U.S. stock indexes were
weaker. Hog bulls still have the overall technical
advantage.
February pork bellies closed down $2.55 at $88.00 today.
Prices closed nearer the session low and were pressured
on more profit taking from recent strong gains. Bulls
still have the near-term technical advantage but have
faded. The next upside price objective for the bulls is
pushing and closing prices above solid technical
resistance at the June high of $95.00.
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