The March NASDAQ 100 closed lower due to profit taking on Tuesday as it consolidated some of the rally off last week's low.
The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are overbought and are turning
neutral hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1804.77 would
confirm that a short-term top has been posted. If March extends this month's rally, the 75% retracement level of the 2007-2008-
decline on the weekly continuation chart crossing at 1947.00 is the next upside target. First resistance is Monday's high
crossing at 1881.50. Second resistance is the 75% retracement level of the 2007-2008-decline crossing at 1947.00. First support
is the 10-day moving average crossing at 1832.20. Second support is the 20-day moving average crossing at 1810.40.
The March S&P 500 index closed slightly lower on Tuesday as it consolidated some of last week's rally but not before posting
a new high for the year. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the
RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March
extends this month's rally, the 62% retracement level of the 2007-2008-decline crossing at 1155.15 is the next upside target.
Closes below the 20-day moving average crossing at 1104.73 are needed to confirm that a short-term top has been posted. First
resistance is today's high crossing at 1128.20. Second resistance is the 62% retracement level of the 2007-2008-decline crossing
at 1155.15. First support is the 10-day moving average crossing at 1110.75. Second support is the 20-day moving average
crossing at 1104.73.
The Dow closed slightly lower due to light profit taking on Tuesday as it consolidated some of the rally off last week's low.
Profit taking tempered early session gains and the low-range close sets the stage for a steady to lower opening on Wednesday.
Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near-term. If the
Dow renews this year's rally, the 62% retracement level of the 2007-2008-decline crossing at 11249 is the next upside target.
Closes below the 20-day moving average crossing at 10428 would confirm that a short-term top has been posted. First
resistance is today's high crossing at 10580. Second resistance is the 62% retracement level of the 2007-2008-decline crossing
at 11249. First support is the 10-day moving average crossing at 10,450. Second support is the 20-day moving average crossing
at 10,428.
INTEREST RATES http://quotes.ino.com/exchanges/?c=interest
March T-bonds closed up 13/32's at 115-13.
March T-bonds closed higher due to short covering on Tuesday as it consolidated some of this month's decline. The high-range
close sets the stage for a steady to higher 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 March extends the decline off November's high, the
75% retracement level of this year's rally crossing at 113-11 is the next downside target. Closes above the 20-day moving
average crossing at 118-01 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving
average crossing at 116-21. Second resistance is the 20-day moving average crossing at 118-01. First support is Monday's low
crossing at 114-27. Second support is the 75% retracement level of this year's rally crossing at 113-11.
ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy
February crude oil closed higher for the fifth day in a row on Tuesday as it extends the rally off this month's low. Profit taking
tempered early session gains and the mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI
remain bullish signaling that sideways to higher prices are possible near-term. If February extends this rally, the reaction high
crossing at 80.40 is the next upside target. Closes below the 20-day moving average crossing at 75.43 would confirm that a
short-term top has been posted. First resistance is today's high crossing at 79.39. Second resistance is the reaction high crossing
80.40. First support is the 10-day moving average crossing at 75.59. Second support is the 20-day moving average crossing at
75.43.
February heating oil closed higher on Tuesday as it extends last week's rally. Profit taking tempered early session gains and the
mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If February extends this rally, the reaction high crossing at 215.26 is the
next upside target. Closes below the 10-day moving average crossing at 200.98 are needed to confirm that a short-term top has
been posted. First resistance is today's high crossing at 213.64. Second resistance is the reaction high crossing at 215.26. First
support is the 20-day moving average crossing at 201.00. Second support is the 10-day moving average crossing at 200.99.
February unleaded gas closed lower due to profit taking on Tuesday as it consolidates some of the rally off this month's low.
The low-range close sets the stage for a steady to lower opening on Wednesday. Despite today's setback, stochastics and the
RSI remain bullish signaling that sideways to higher prices are possible near-term. If February extends this rally, the reaction
high crossing at 208.48 is the next upside target. Closes below the 10-day moving average crossing at 194.35 are needed to
confirm that a short-term top has been posted. First resistance is today's high crossing at 205.80. Second resistance is the
reaction high crossing at 208.48. First support is the 20-day moving average crossing at 194.68. Second support is the 10-day
moving average crossing at 194.35.
February Henry natural gas closed lower due to profit taking on Tuesday as it consolidates some of this month's rally. The low-
range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but are neutral
to bullish signaling that sideways to higher prices are possible near-term. If February extends this month's rally, the 87%
retracement level of this fall's decline crossing at 6.077 is the next upside target. Closes below the 20-day moving average
crossing at 5.374 would temper the near-term friendly outlook in the market. First resistance is today's high crossing at 6.038.
Second resistance is the 87% retracement level of this fall's decline crossing at 6.077. First support is the 10-day moving
average crossing at 5.762. Second support is the 20-day moving average crossing at 5.374.
CURRENCIES
The March Dollar closed higher due to short covering on Tuesday as it consolidated some of the decline off last week's high.
The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought and
are turning bearish hinting that a short-term top might be in or is near. Closes below the 10-day moving average crossing at
78.06 would signal that a short-term top has likely been posted. Closes below the 20-day moving average crossing at 77.05
would confirm that a short-term top has been posted. If March renews the current rally, the 38% retracement level of the 2008-
2009-decline crossing at 79.72 is the next upside target. First resistance is last Tuesday's high crossing at 78.77. Second
resistance is the 38% retracement level of the 2008-2009-decline crossing at 79.72. First support is the 10-day moving average
crossing at 78.06. Second support is the 20-day moving average crossing at 77.05.
The March Euro closed lower on Tuesday as it consolidated some of the 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 bullish signaling that sideways to
higher prices are possible near-term. Closes above the 20-day moving average crossing at 145.922 are needed to confirm that a
short-term low has been posted. If March renews this month's decline, the 38% retracement level of the 2008-2009-rally
crossing at 140.976 is the next downside target. First resistance is today's high crossing at 144.570. Second resistance is the 20-
day moving average crossing at 145.923. First support is last Tuesday's low crossing at 142.150. Second support is the 38%
retracement level of the 2008-2009-rally crossing at 140.976.
The March British Pound closed lower on Tuesday and in doing so renewed this month's decline. The low-range close sets the
stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain neutral to bearish signaling that sideways to
lower prices are possible near-term. If March extends this month's decline, October's low crossing at 1.5718 is the next
downside target. Closes above the 20-day moving average crossing at 1.6225 would confirm that a short-term low has been
posted. First resistance is the 10-day moving average crossing at 1.6058. Second resistance is the 20-day moving average
crossing at 1.6225. First support is today's low crossing at 1.5859. Second support is October's low crossing at 1.5718.
The March Swiss Franc closed lower due to profit taking on Tuesday as it consolidated some of last week's rally but remains
above the 10-day moving average crossing at .9607. The low-range close sets the stage for a steady to lower opening on
Wednesday. 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 .9716 are needed to confirm that a short-term low has been posted. If March
renews this month's decline, the 38% retracement level of the 2008-2009-rally crossing at .9399 is the next downside target.
First resistance is the 20-day moving average crossing at .9716. Second resistance is today's high crossing at .9734. First
support is the 10-day moving average crossing at .9607. Second support is the reaction low crossing at .9522.
The March Canadian Dollar closed slightly lower due to a late-day sell off on Tuesday as it consolidated some of the rally 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
bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 96.08 or
below 92.80 are needed to confirm a breakout of November's trading range and point the direction of the next trending move.
First resistance is the reaction high crossing at 96.08. Second resistance is today's high crossing at 96.50. First support is the
10-day moving average crossing at 94.69. Second support is the reaction low crossing at 93.03.
The March Japanese Yen closed lower on Tuesday to renew this month's decline. The low-range close sets the stage for a
steady to lower 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 March extends the decline off November's high, October's low crossing at
.10847 is the next downside target. Closes above the 20-day moving average crossing at .11154 would confirm that a short-term
low has been posted. First resistance is the 10-day moving average crossing at .10995. Second resistance is the 20-day moving
average crossing at .11154. First support is today's low crossing at .10861. Second support is October's low crossing at
.10847.
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PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals
February gold closed lower on Tuesday ending a three-day short covering rally off last week's low. The low-range close sets the
stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned bullish hinting that a short-term low
might be in or is near. Closes above the 20-day moving average crossing at 1133.20 are needed to confirm that a short-term low
has been posted. If February renews this month's decline, the 38% retracement level of this year's rally crossing at 1032.60 is
the next downside target. First resistance is Monday's high crossing at 1114.50. Second resistance is the 20-day moving average
crossing at 1133.20. First support is last Tuesday's low crossing at 1075.20. Second support is the 38% retracement level of
this year's rally crossing at 1032.60.
March silver closed sharply lower on Tuesday ending a three-day correction off last week's low. Today's decline was attributed
to book squaring ahead of year's end and a slight rebound in the Dollar. Additional pressure came from strength in the equity
markets. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned
bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 17.709 are
needed to confirm that a short-term low has been posted. If March renews this month's decline, the reaction low crossing at
16.155 is the next downside target. First resistance is the 20-day moving average crossing at 17.709. Second resistance is this
month's high crossing at 19.500. First support is last Tuesday's low crossing at 16.780. Second support is the reaction low
crossing at 16.155.
March copper posted an inside day with a lower close due to profit taking on Tuesday as it consolidated recent gains. The low-
range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain bullish signaling that
sideways to higher prices are possible near-term. If March extends the late-December rally, the 87% retracement level of the
2008-decline crossing at 347.94 is the next upside target. Closes below the 20-day moving average crossing at 319.52 are
needed to confirm that a short-term top has been posted. First resistance is Monday's high crossing at 334.40. Second resistance
is the 87% retracement level of the 2008-decline crossing at 347.94. First support is the 20-day moving average crossing at
319.52. Second support is the reaction low crossing at 308.15.
FOOD & FIBER http://quotes.ino.com/exchanges/?c=food
March coffee closed lower on Tuesday as it extended this week's decline. The low-range close sets the stage for a steady to
lower opening on Wednesday. Stochastics and the RSI are becoming oversold but remain bearish signaling that sideways to
lower prices are possible near-term. If March extends this decline, the reaction low crossing at 13.40 is the next downside
target. Closes above the 20-day moving average crossing at 14.33 would temper the near-term bearish outlook.
March cocoa closed higher due to short covering on Tuesday as it consolidated some of Monday's decline. The low-range close
sets the stage for a steady to lower 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 March extends Monday's decline, the reaction low crossing at
32.00 is the next downside target. Closes above the 20-day moving average crossing at 33.43 would temper the bearish outlook.
March sugar posted a key reversal down on Tuesday as it consolidated some of the rally off November's low. The low-range
close set the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to
bullish signaling that sideways to higher prices are possible near-term. If March extends this month's rally, weekly resistance
crossing at 28.60 is the neutral upside target. Closes below the 20-day moving average crossing at 24.69 would confirm that a
short-term top has been posted.
March cotton posted an inside day with a lower close on Tuesday but remains above the 10-day moving average crossing at
74.93. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned
bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 76.58 are
needed to renew this year's rally while opening the door for a possible test of the 62% retracement level of the 2008-decline
crossing at 80.83. Closes below the reaction low crossing at 72.80 would confirm a downside breakout of this month's trading range and would open the door for a larger-degree decline into early-January.
GRAINS http://quotes.ino.com/exchanges/?c=grains
March Corn closed up 1-cent at 4.17.
March corn closed higher on Tuesday as it extends the late-December rally. There was some position-squaring today as
December nears its close, and there continues to be speculation about index fund rebalancing. Whether it happens, and to what
extent, could determine corn's direction to start the New Year. The high-range close sets the stage for a steady to higher opening
on Wednesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If March
extends this week's rally, the reaction high crossing at 4.24 1/2 is the next upside target. Closes above 4.24 1/2 or below 3.77
1/2 are needed to confirm a trading range breakout and point the direction of the next trending move. First resistance is
Monday's high crossing at 4.18 1/2. Second resistance is the reaction high crossing at 4.21. First support is Monday's gap
crossing at 4.08 3/4. Second support is the 10-day moving average crossing at 4.05 3/4.
March wheat closed down 9 3/4-cents at 5.41.
March wheat closed lower due to profit taking on Tuesday and below the 20-day moving average crossing at 5.41 3/4 as it
consolidated some of Monday's rally. The low-range close sets the stage for a steady to lower opening on Wednesday.
Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If March extends Monday's
rally, the December 4th gap crossing at 5.70 is the next upside target. Closes below Monday's gap crossing at 5.26 are needed to
confirm that a short-term top has been posted. First resistance is today's high crossing at 5.53. Second resistance is the
December 4th gap crossing at 5.70. First support is the 10-day moving average crossing at 5.30 3/4. Second support is
Monday's gap crossing at 5.26.
March Kansas City Wheat closed down 8-cents at 5.38.
March Kansas City Wheat closed lower due to profit taking on Tuesday as it consolidated some of Monday's rally but remains
above the 20-day moving average crossing at 5.34 1/2. The low-range close sets the stage for a steady to lower opening on
Wednesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If March
extends Monday's rally, the reaction high crossing at 5.86 is the next upside target. Closes below Monday's gap crossing at
5.21 1/2 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 5.48. Second
resistance is the reaction high crossing at 5.86. First support is Monday's gap crossing at 5.21 1/2. Second support is the
reaction low crossing at 5.10.
March Minneapolis wheat closed down 7 3/4-cents at 5.49.
March Minneapolis wheat closed lower due to profit taking on Tuesday as it consolidated some of Monday's rally but remains
above the 20-day moving average crossing at 5.48. The low-range close sets the stage for a steady to lower opening on
Wednesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If March
extends Monday's rally, the reaction high crossing at 5.97 1/4 is the next upside target. Closes below the 10-day moving
average crossing at 5.37 1/2 would confirm that a short-term top has been posted. First resistance is today's high crossing at
5.57 1/2. Second resistance is the reaction high crossing at 5.97 1/4. First support is the 10-day moving average crossing at
5.37 1/2. Second support is last Tuesday's low crossing at 5.23.
SOYBEAN COMPLEX
March soybeans closed up 9-cents at 10.47.
March soybeans closed higher on Tuesday and above the 20-day moving average crossing at 10.39 1/2 as it extends the rally off
last week's low. Commodity funds bought an estimated 4,000 contracts. Volume was thin, which can help to exaggerate moves
in the markets during the holidays. Many traders have moved to the sidelines ahead of the end of the year but are keeping a close
eye on Jan. 12, when the USDA is slated to issue highly anticipated estimates on U.S. crop production. The high-range close
sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI have turned bullish signaling that sideways
to higher prices are possible near-term. If March extends this week's rally, the December 17th gap crossing at 10.59 1/2 is the
next upside target. Closes below the 10-day moving average crossing at 10.28 3/4 would temper the near-term friendly outlook
in the market. First resistance is today's high crossing at 10.49. Second resistance is the December 17th gap crossing at 10.59
1/2. First support is Monday's gap crossing at 10.16. Second support is last Tuesday's low crossing at 9.93.
March soybean meal closed up $2.70 at $307.60.
March soybean meal closed higher on Tuesday as it extends Monday's rally above the 20-day moving average crossing at
304.30. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI have turned
bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, this month's high
crossing at 316.50 is the next upside target. If March renews the decline off this month's high, the 50% retracement level of the
October-December rally crossing at 290.30 is the next downside target. First resistance is today's high crossing at 309.00.
Second resistance is this month's high crossing at 316.50. First support is last Tuesday's low crossing at 292.50. Second
support is the 50% retracement level of this fall's rally crossing at 290.30.
March soybean oil closed down 20 pts. at 39.85.
March soybean oil posted an inside day with a lower close on Tuesday as it consolidated some of yesterday's rally. The mid-
range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI have turned bullish signaling that
sideways to higher prices are possible near-term. If March extends Monday's rally, the reaction high crossing at 40.75 is the
next upside target. Closes below Monday's gap crossing at 38.95 would confirm that a short-term top has been posted. First
resistance is Monday's high crossing at 40.10. Second resistance is the reaction high crossing at 40.75. First support is
Monday's gap crossing at 38.95. Second support is last Tuesday's low crossing at 38.06.
LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock
February hogs closed up $0.72 at $65.43.
February hogs gapped up and closed above the 10-day moving average crossing at 65.35 on Tuesday as it consolidated some of
last Thursday'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. If March extends last Thursday's
decline, the August-October uptrend line crossing near 62.61 is the next downside target. Closes above the 20-day moving
average crossing at 65.63 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving
average crossing at 65.63. Second resistance is the reaction high crossing at 65.70. First support is last Thursday's low crossing
at 63.70. Second support is the August-October uptrend line crossing near 62.75.
February bellies closed down $1.00 at $85.50.
February bellies closed lower on Tuesday and below the 20-day moving average as it consolidates some of last week's rally.
The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are turning bearish
signaling that sideways to lower prices are possible near-term. If February renews the decline off this month's high, the reaction
low crossing at 82.80 is the next downside target. Closes above the 10-day moving average crossing at 87.89 would confirm
that a short-term low has been posted. First resistance is the 10-day moving average crossing at 87.89. Second resistance is last
Tuesday's high crossing at 88.70. First support is today's low crossing at 85.50. Second support is last Monday's low crossing
at 84.60.
February cattle closed down $0.25 at 85.13.
February cattle closed lower on Tuesday as it consolidated some of Monday's rally. The mid-range close sets the stage for a
steady opening on Wednesday. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are
possible near-term. If February extends this month's rally, the reaction high crossing at 86.00 is the next upside target. Closes
below the 20-day moving average crossing at 84.15 are needed to confirm that a short-term top has been posted. First resistance
is last Tuesday's high crossing at 85.85. Second resistance is the reaction high crossing at 86.00. First support is the 10-day
moving average crossing at 85.01. Second support is the 20-day moving average crossing at 84.15.
March feeder cattle closed down $0.23 at $94.72.
March Feeder cattle posted an inside day with a lower close on Tuesday as it extends the trading range of the past seven days.
The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain neutral to bullish
signaling that sideways to higher prices are possible near-term. If March renews this month's rally, the November 11th gap
crossing at 95.50 is the next upside target. Closes below the 20-day moving average crossing at 93.72 are needed to confirm
that a short-term top has been posted. First resistance is last Monday's high crossing at 95.25. Second resistance is the
November 11th gap crossing at 95.50. First support is the 20-day moving average crossing at 93.72. Second support is the
reaction low crossing at 92.65.
____________________________________________________________________________
E X T R E M E F U T U R E S
____________________________________________________________________________
Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/
WINNERS
BCX.F11 CBOT SOYBEAN CRUSH INDEX Jan 2011 72.25 4.50 +7.06
NGX.H10 5 YEAR INT RATE SWAP (IMPLIED YLD) Mar 2010 3.17615 0.05989 +1.92
O.H10 OATS Mar 2010 269.00 4.00 +1.51
SM.F10 SOYBEAN MEAL Jan 2010 314.9 4.5 +1.45
HO.F10 HEATING OIL Jan 2010 2.1028 0.0293 +1.42
PHX PHOENIX HOME PRICE INDEX 110.71 1.45 +1.33
LH.V10 LEAN HOGS Oct 2010 67.7 0.8 +1.20
YK.F10 SOYBEANS (MINI) Jan 2010 1038.00 9.00 +0.87
S.H10 SOYBEANS Mar 2010 1047.00 9.00 +0.87
NK.H10 NIKKEI 225 INDEX Mar 2010 10735 75 +0.70
LOSERS
BCX.K10 CBOT SOYBEAN CRUSH INDEX May 2010 59.00 -6.25 -9.58
NG.F10 NATURAL GAS Jan 2010 5.814 -0.176 -2.95
LB.U10 LUMBER (RANDOM LENGTH) Sep 2010 258.5 -7.1 -2.67
SI.H10 SILVER Mar 2010 17.11 -0.45 -2.56
YW.H10 WHEAT (MINI) Mar 2010 541.00 -9.75 -1.77
W.H10 WHEAT Mar 2010 541.00 -9.75 -1.77
TPX TAMPA HOME PRICE INDEX 140.27 -2.30 -1.61
KW.H10 HARD RED WINTER WHEAT Mar 2010 538 -8 -1.47
KB.Y$$ CHEESE-BLOCKS (SPOT) Cash 1500 -20 -1.32
PB.G10 FROZEN PORK BELLIES Feb 2010 85.50 -1.00 -1.16
Trade Stocks, Futures, And Forex With Up To 80% Accuracy
March T-bonds closed up 13/32's at 115-13.
March T-bonds closed higher due to short covering on Tuesday as it consolidated some of this month's decline. The high-range
close sets the stage for a steady to higher 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 March extends the decline off November's high, the
75% retracement level of this year's rally crossing at 113-11 is the next downside target. Closes above the 20-day moving
average crossing at 118-01 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving
average crossing at 116-21. Second resistance is the 20-day moving average crossing at 118-01. First support is Monday's low
crossing at 114-27. Second support is the 75% retracement level of this year's rally crossing at 113-11.
ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy
February crude oil closed higher for the fifth day in a row on Tuesday as it extends the rally off this month's low. Profit taking
tempered early session gains and the mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI
remain bullish signaling that sideways to higher prices are possible near-term. If February extends this rally, the reaction high
crossing at 80.40 is the next upside target. Closes below the 20-day moving average crossing at 75.43 would confirm that a
short-term top has been posted. First resistance is today's high crossing at 79.39. Second resistance is the reaction high crossing
80.40. First support is the 10-day moving average crossing at 75.59. Second support is the 20-day moving average crossing at
75.43.
February heating oil closed higher on Tuesday as it extends last week's rally. Profit taking tempered early session gains and the
mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If February extends this rally, the reaction high crossing at 215.26 is the
next upside target. Closes below the 10-day moving average crossing at 200.98 are needed to confirm that a short-term top has
been posted. First resistance is today's high crossing at 213.64. Second resistance is the reaction high crossing at 215.26. First
support is the 20-day moving average crossing at 201.00. Second support is the 10-day moving average crossing at 200.99.
February unleaded gas closed lower due to profit taking on Tuesday as it consolidates some of the rally off this month's low.
The low-range close sets the stage for a steady to lower opening on Wednesday. Despite today's setback, stochastics and the
RSI remain bullish signaling that sideways to higher prices are possible near-term. If February extends this rally, the reaction
high crossing at 208.48 is the next upside target. Closes below the 10-day moving average crossing at 194.35 are needed to
confirm that a short-term top has been posted. First resistance is today's high crossing at 205.80. Second resistance is the
reaction high crossing at 208.48. First support is the 20-day moving average crossing at 194.68. Second support is the 10-day
moving average crossing at 194.35.
February Henry natural gas closed lower due to profit taking on Tuesday as it consolidates some of this month's rally. The low-
range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but are neutral
to bullish signaling that sideways to higher prices are possible near-term. If February extends this month's rally, the 87%
retracement level of this fall's decline crossing at 6.077 is the next upside target. Closes below the 20-day moving average
crossing at 5.374 would temper the near-term friendly outlook in the market. First resistance is today's high crossing at 6.038.
Second resistance is the 87% retracement level of this fall's decline crossing at 6.077. First support is the 10-day moving
average crossing at 5.762. Second support is the 20-day moving average crossing at 5.374.
CURRENCIES
The March Dollar closed higher due to short covering on Tuesday as it consolidated some of the decline off last week's high.
The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought and
are turning bearish hinting that a short-term top might be in or is near. Closes below the 10-day moving average crossing at
78.06 would signal that a short-term top has likely been posted. Closes below the 20-day moving average crossing at 77.05
would confirm that a short-term top has been posted. If March renews the current rally, the 38% retracement level of the 2008-
2009-decline crossing at 79.72 is the next upside target. First resistance is last Tuesday's high crossing at 78.77. Second
resistance is the 38% retracement level of the 2008-2009-decline crossing at 79.72. First support is the 10-day moving average
crossing at 78.06. Second support is the 20-day moving average crossing at 77.05.
The March Euro closed lower on Tuesday as it consolidated some of the 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 bullish signaling that sideways to
higher prices are possible near-term. Closes above the 20-day moving average crossing at 145.922 are needed to confirm that a
short-term low has been posted. If March renews this month's decline, the 38% retracement level of the 2008-2009-rally
crossing at 140.976 is the next downside target. First resistance is today's high crossing at 144.570. Second resistance is the 20-
day moving average crossing at 145.923. First support is last Tuesday's low crossing at 142.150. Second support is the 38%
retracement level of the 2008-2009-rally crossing at 140.976.
The March British Pound closed lower on Tuesday and in doing so renewed this month's decline. The low-range close sets the
stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain neutral to bearish signaling that sideways to
lower prices are possible near-term. If March extends this month's decline, October's low crossing at 1.5718 is the next
downside target. Closes above the 20-day moving average crossing at 1.6225 would confirm that a short-term low has been
posted. First resistance is the 10-day moving average crossing at 1.6058. Second resistance is the 20-day moving average
crossing at 1.6225. First support is today's low crossing at 1.5859. Second support is October's low crossing at 1.5718.
The March Swiss Franc closed lower due to profit taking on Tuesday as it consolidated some of last week's rally but remains
above the 10-day moving average crossing at .9607. The low-range close sets the stage for a steady to lower opening on
Wednesday. 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 .9716 are needed to confirm that a short-term low has been posted. If March
renews this month's decline, the 38% retracement level of the 2008-2009-rally crossing at .9399 is the next downside target.
First resistance is the 20-day moving average crossing at .9716. Second resistance is today's high crossing at .9734. First
support is the 10-day moving average crossing at .9607. Second support is the reaction low crossing at .9522.
The March Canadian Dollar closed slightly lower due to a late-day sell off on Tuesday as it consolidated some of the rally 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
bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 96.08 or
below 92.80 are needed to confirm a breakout of November's trading range and point the direction of the next trending move.
First resistance is the reaction high crossing at 96.08. Second resistance is today's high crossing at 96.50. First support is the
10-day moving average crossing at 94.69. Second support is the reaction low crossing at 93.03.
The March Japanese Yen closed lower on Tuesday to renew this month's decline. The low-range close sets the stage for a
steady to lower 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 March extends the decline off November's high, October's low crossing at
.10847 is the next downside target. Closes above the 20-day moving average crossing at .11154 would confirm that a short-term
low has been posted. First resistance is the 10-day moving average crossing at .10995. Second resistance is the 20-day moving
average crossing at .11154. First support is today's low crossing at .10861. Second support is October's low crossing at
.10847.
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PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals
February gold closed lower on Tuesday ending a three-day short covering rally off last week's low. The low-range close sets the
stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned bullish hinting that a short-term low
might be in or is near. Closes above the 20-day moving average crossing at 1133.20 are needed to confirm that a short-term low
has been posted. If February renews this month's decline, the 38% retracement level of this year's rally crossing at 1032.60 is
the next downside target. First resistance is Monday's high crossing at 1114.50. Second resistance is the 20-day moving average
crossing at 1133.20. First support is last Tuesday's low crossing at 1075.20. Second support is the 38% retracement level of
this year's rally crossing at 1032.60.
March silver closed sharply lower on Tuesday ending a three-day correction off last week's low. Today's decline was attributed
to book squaring ahead of year's end and a slight rebound in the Dollar. Additional pressure came from strength in the equity
markets. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned
bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 17.709 are
needed to confirm that a short-term low has been posted. If March renews this month's decline, the reaction low crossing at
16.155 is the next downside target. First resistance is the 20-day moving average crossing at 17.709. Second resistance is this
month's high crossing at 19.500. First support is last Tuesday's low crossing at 16.780. Second support is the reaction low
crossing at 16.155.
March copper posted an inside day with a lower close due to profit taking on Tuesday as it consolidated recent gains. The low-
range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain bullish signaling that
sideways to higher prices are possible near-term. If March extends the late-December rally, the 87% retracement level of the
2008-decline crossing at 347.94 is the next upside target. Closes below the 20-day moving average crossing at 319.52 are
needed to confirm that a short-term top has been posted. First resistance is Monday's high crossing at 334.40. Second resistance
is the 87% retracement level of the 2008-decline crossing at 347.94. First support is the 20-day moving average crossing at
319.52. Second support is the reaction low crossing at 308.15.
FOOD & FIBER http://quotes.ino.com/exchanges/?c=food
March coffee closed lower on Tuesday as it extended this week's decline. The low-range close sets the stage for a steady to
lower opening on Wednesday. Stochastics and the RSI are becoming oversold but remain bearish signaling that sideways to
lower prices are possible near-term. If March extends this decline, the reaction low crossing at 13.40 is the next downside
target. Closes above the 20-day moving average crossing at 14.33 would temper the near-term bearish outlook.
March cocoa closed higher due to short covering on Tuesday as it consolidated some of Monday's decline. The low-range close
sets the stage for a steady to lower 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 March extends Monday's decline, the reaction low crossing at
32.00 is the next downside target. Closes above the 20-day moving average crossing at 33.43 would temper the bearish outlook.
March sugar posted a key reversal down on Tuesday as it consolidated some of the rally off November's low. The low-range
close set the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to
bullish signaling that sideways to higher prices are possible near-term. If March extends this month's rally, weekly resistance
crossing at 28.60 is the neutral upside target. Closes below the 20-day moving average crossing at 24.69 would confirm that a
short-term top has been posted.
March cotton posted an inside day with a lower close on Tuesday but remains above the 10-day moving average crossing at
74.93. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned
bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 76.58 are
needed to renew this year's rally while opening the door for a possible test of the 62% retracement level of the 2008-decline
crossing at 80.83. Closes below the reaction low crossing at 72.80 would confirm a downside breakout of this month's trading range and would open the door for a larger-degree decline into early-January.
GRAINS http://quotes.ino.com/exchanges/?c=grains
March Corn closed up 1-cent at 4.17.
March corn closed higher on Tuesday as it extends the late-December rally. There was some position-squaring today as
December nears its close, and there continues to be speculation about index fund rebalancing. Whether it happens, and to what
extent, could determine corn's direction to start the New Year. The high-range close sets the stage for a steady to higher opening
on Wednesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If March
extends this week's rally, the reaction high crossing at 4.24 1/2 is the next upside target. Closes above 4.24 1/2 or below 3.77
1/2 are needed to confirm a trading range breakout and point the direction of the next trending move. First resistance is
Monday's high crossing at 4.18 1/2. Second resistance is the reaction high crossing at 4.21. First support is Monday's gap
crossing at 4.08 3/4. Second support is the 10-day moving average crossing at 4.05 3/4.
March wheat closed down 9 3/4-cents at 5.41.
March wheat closed lower due to profit taking on Tuesday and below the 20-day moving average crossing at 5.41 3/4 as it
consolidated some of Monday's rally. The low-range close sets the stage for a steady to lower opening on Wednesday.
Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If March extends Monday's
rally, the December 4th gap crossing at 5.70 is the next upside target. Closes below Monday's gap crossing at 5.26 are needed to
confirm that a short-term top has been posted. First resistance is today's high crossing at 5.53. Second resistance is the
December 4th gap crossing at 5.70. First support is the 10-day moving average crossing at 5.30 3/4. Second support is
Monday's gap crossing at 5.26.
March Kansas City Wheat closed down 8-cents at 5.38.
March Kansas City Wheat closed lower due to profit taking on Tuesday as it consolidated some of Monday's rally but remains
above the 20-day moving average crossing at 5.34 1/2. The low-range close sets the stage for a steady to lower opening on
Wednesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If March
extends Monday's rally, the reaction high crossing at 5.86 is the next upside target. Closes below Monday's gap crossing at
5.21 1/2 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 5.48. Second
resistance is the reaction high crossing at 5.86. First support is Monday's gap crossing at 5.21 1/2. Second support is the
reaction low crossing at 5.10.
March Minneapolis wheat closed down 7 3/4-cents at 5.49.
March Minneapolis wheat closed lower due to profit taking on Tuesday as it consolidated some of Monday's rally but remains
above the 20-day moving average crossing at 5.48. The low-range close sets the stage for a steady to lower opening on
Wednesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If March
extends Monday's rally, the reaction high crossing at 5.97 1/4 is the next upside target. Closes below the 10-day moving
average crossing at 5.37 1/2 would confirm that a short-term top has been posted. First resistance is today's high crossing at
5.57 1/2. Second resistance is the reaction high crossing at 5.97 1/4. First support is the 10-day moving average crossing at
5.37 1/2. Second support is last Tuesday's low crossing at 5.23.
SOYBEAN COMPLEX
March soybeans closed up 9-cents at 10.47.
March soybeans closed higher on Tuesday and above the 20-day moving average crossing at 10.39 1/2 as it extends the rally off
last week's low. Commodity funds bought an estimated 4,000 contracts. Volume was thin, which can help to exaggerate moves
in the markets during the holidays. Many traders have moved to the sidelines ahead of the end of the year but are keeping a close
eye on Jan. 12, when the USDA is slated to issue highly anticipated estimates on U.S. crop production. The high-range close
sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI have turned bullish signaling that sideways
to higher prices are possible near-term. If March extends this week's rally, the December 17th gap crossing at 10.59 1/2 is the
next upside target. Closes below the 10-day moving average crossing at 10.28 3/4 would temper the near-term friendly outlook
in the market. First resistance is today's high crossing at 10.49. Second resistance is the December 17th gap crossing at 10.59
1/2. First support is Monday's gap crossing at 10.16. Second support is last Tuesday's low crossing at 9.93.
March soybean meal closed up $2.70 at $307.60.
March soybean meal closed higher on Tuesday as it extends Monday's rally above the 20-day moving average crossing at
304.30. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI have turned
bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, this month's high
crossing at 316.50 is the next upside target. If March renews the decline off this month's high, the 50% retracement level of the
October-December rally crossing at 290.30 is the next downside target. First resistance is today's high crossing at 309.00.
Second resistance is this month's high crossing at 316.50. First support is last Tuesday's low crossing at 292.50. Second
support is the 50% retracement level of this fall's rally crossing at 290.30.
March soybean oil closed down 20 pts. at 39.85.
March soybean oil posted an inside day with a lower close on Tuesday as it consolidated some of yesterday's rally. The mid-
range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI have turned bullish signaling that
sideways to higher prices are possible near-term. If March extends Monday's rally, the reaction high crossing at 40.75 is the
next upside target. Closes below Monday's gap crossing at 38.95 would confirm that a short-term top has been posted. First
resistance is Monday's high crossing at 40.10. Second resistance is the reaction high crossing at 40.75. First support is
Monday's gap crossing at 38.95. Second support is last Tuesday's low crossing at 38.06.
LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock
February hogs closed up $0.72 at $65.43.
February hogs gapped up and closed above the 10-day moving average crossing at 65.35 on Tuesday as it consolidated some of
last Thursday'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. If March extends last Thursday's
decline, the August-October uptrend line crossing near 62.61 is the next downside target. Closes above the 20-day moving
average crossing at 65.63 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving
average crossing at 65.63. Second resistance is the reaction high crossing at 65.70. First support is last Thursday's low crossing
at 63.70. Second support is the August-October uptrend line crossing near 62.75.
February bellies closed down $1.00 at $85.50.
February bellies closed lower on Tuesday and below the 20-day moving average as it consolidates some of last week's rally.
The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are turning bearish
signaling that sideways to lower prices are possible near-term. If February renews the decline off this month's high, the reaction
low crossing at 82.80 is the next downside target. Closes above the 10-day moving average crossing at 87.89 would confirm
that a short-term low has been posted. First resistance is the 10-day moving average crossing at 87.89. Second resistance is last
Tuesday's high crossing at 88.70. First support is today's low crossing at 85.50. Second support is last Monday's low crossing
at 84.60.
February cattle closed down $0.25 at 85.13.
February cattle closed lower on Tuesday as it consolidated some of Monday's rally. The mid-range close sets the stage for a
steady opening on Wednesday. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are
possible near-term. If February extends this month's rally, the reaction high crossing at 86.00 is the next upside target. Closes
below the 20-day moving average crossing at 84.15 are needed to confirm that a short-term top has been posted. First resistance
is last Tuesday's high crossing at 85.85. Second resistance is the reaction high crossing at 86.00. First support is the 10-day
moving average crossing at 85.01. Second support is the 20-day moving average crossing at 84.15.
March feeder cattle closed down $0.23 at $94.72.
March Feeder cattle posted an inside day with a lower close on Tuesday as it extends the trading range of the past seven days.
The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain neutral to bullish
signaling that sideways to higher prices are possible near-term. If March renews this month's rally, the November 11th gap
crossing at 95.50 is the next upside target. Closes below the 20-day moving average crossing at 93.72 are needed to confirm
that a short-term top has been posted. First resistance is last Monday's high crossing at 95.25. Second resistance is the
November 11th gap crossing at 95.50. First support is the 20-day moving average crossing at 93.72. Second support is the
reaction low crossing at 92.65.
____________________________________________________________________________
E X T R E M E F U T U R E S
____________________________________________________________________________
Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/
WINNERS
BCX.F11 CBOT SOYBEAN CRUSH INDEX Jan 2011 72.25 4.50 +7.06
NGX.H10 5 YEAR INT RATE SWAP (IMPLIED YLD) Mar 2010 3.17615 0.05989 +1.92
O.H10 OATS Mar 2010 269.00 4.00 +1.51
SM.F10 SOYBEAN MEAL Jan 2010 314.9 4.5 +1.45
HO.F10 HEATING OIL Jan 2010 2.1028 0.0293 +1.42
PHX PHOENIX HOME PRICE INDEX 110.71 1.45 +1.33
LH.V10 LEAN HOGS Oct 2010 67.7 0.8 +1.20
YK.F10 SOYBEANS (MINI) Jan 2010 1038.00 9.00 +0.87
S.H10 SOYBEANS Mar 2010 1047.00 9.00 +0.87
NK.H10 NIKKEI 225 INDEX Mar 2010 10735 75 +0.70
LOSERS
BCX.K10 CBOT SOYBEAN CRUSH INDEX May 2010 59.00 -6.25 -9.58
NG.F10 NATURAL GAS Jan 2010 5.814 -0.176 -2.95
LB.U10 LUMBER (RANDOM LENGTH) Sep 2010 258.5 -7.1 -2.67
SI.H10 SILVER Mar 2010 17.11 -0.45 -2.56
YW.H10 WHEAT (MINI) Mar 2010 541.00 -9.75 -1.77
W.H10 WHEAT Mar 2010 541.00 -9.75 -1.77
TPX TAMPA HOME PRICE INDEX 140.27 -2.30 -1.61
KW.H10 HARD RED WINTER WHEAT Mar 2010 538 -8 -1.47
KB.Y$$ CHEESE-BLOCKS (SPOT) Cash 1500 -20 -1.32
PB.G10 FROZEN PORK BELLIES Feb 2010 85.50 -1.00 -1.16
Trade Stocks, Futures, And Forex With Up To 80% Accuracy
E X T R E M E S T O C K S
____________________________________________________________________________
Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/
WINNERS
SPIR SPIRE CORP 6.080 1.810 +42.39
JBII 310 HOLDINGS INC 6.35 1.65 +35.11
VRMLQ VERMILLION INC 27.50 5.26 +23.65
AUM GOLDEN MINREALS CO 10.89 1.90 +21.13
CRTX CORNERSTONE THERAPEUTICS 6.3299 1.0299 +19.43
HII.A HOMBURG INVEST INC 7.66 1.17 +18.03
ENTN ENTORIAN TECHNOLOGIES 5.4500 0.7500 +15.96
CADC CHINA ADVANCED CONSTRUCTI 5.7400 0.7799 +15.72
SPNC SPECTRANETICS CORP 6.910 0.870 +14.40
SMMX SYMYX TECHNOLOGIES INC 5.5000 0.6900 +14.35
LOSERS
ERNT ESSEX RENTAL CORP 5.4 -0.8 -12.90
ARGN AMERIGON INC 8.1797 -1.0403 -11.28
CCME TM ENTERTAINMENT & MEDIA 10.88 -1.20 -9.93
NWPX NORTHWEST PIPE CO 28.00 -2.64 -8.62
AKF AMBAC FINANCIAL GROUP 5.95 DEBENTURES 5.32 -0.48 -8.28
AKT AMBAC FINANCIAL GROUP 5.875 DEBENTURES 5.21 -0.44 -7.79
LONG ELONG INC ADS 10.72 -0.88 -7.59
ADES ADA-ES INC 5.8501 -0.4699 -7.44
OPTT OCEAN POWER TECHNOLOGIES 8.36 -0.65 -7.21
GPIC GAMING PARTNERS INTERNTL 5.50 -0.42 -7.09
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