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E X T R E M E M A R K E T C O M M E N T A R Y
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The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes
GENERAL STOCK MARKET COMMENT: The U.S. stock indexes closed
solidly higher and nearer their session highs today. Bulls
today gained some fresh upside near-term technical momentum
and a bullish weekly high close on Friday would be a solid
early clue that major market lows are in place. Traders are
awaiting Friday morning's U.S. jobs report, which is
expected to be another bad one.
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INTEREST RATES http://quotes.ino.com/exchanges/?c=interest
June U.S. T-Bonds closed down 1 11/32 at 129 7/32 today.
Prices closed near the session low again today scored a
bearish "outside day" down on the daily bar chart. The big
gains in the stock market today pressured the bonds. Bulls
faded a bit today. The next downside price objective for
the T-Bond bears is closing prices below solid technical
support at last week's low of 126 24/32.
ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy
ENERGIES: May crude oil closed up $4.15 at $52.54 a
barrel today. Prices closed nearer the session high today
on short covering and fresh speculative buying interest. A
stronger U.S. stock market and optimism in the wake of the
G-20 meeting in London boosted crude today. A sharply lower
U.S. dollar also aided crude today. Bulls have regained
upside near-term technical momentum.
May heating oil closed up 949 points at $1.4407 today.
Prices closed nearer the session high today on short
covering. Bears still have the overall technical advantage.
The bulls' next upside price objective is closing prices
above solid technical resistance at last week's high of
$1.5154.
May (RBOB) unleaded gasoline closed up 923 points at
$1.4640 today. Prices closed nearer the session high today
on short covering. Bears still have the slight near-term
technical advantage. The next upside price objective for
the bulls is closing prices above solid technical
resistance at last week's high of $1.5546.
May natural gas closed up 6.3 cents at $3.758 today. Prices
closed near mid-range today. The bears still have the solid
near-term technical advantage. The next upside price
objective for the bulls is closing prices above solid
technical resistance at $4.25.
CURRENCIES
CURRENCIES: The June Euro currency
closed up 206 points at 1.3440 today. Prices closed nearer
the session high today on short covering and amid a big
rally in the U.S. stock market. Bulls and bears are back on
a level near-term technical playing field.
The June Japanese yen closed down 94 points at 1.0051
today. Prices closed nearer the session low today and hit a
fresh 5.5-month low. The bears still have the near-term
technical advantage and gained more downside momentum
today.
The June Swiss franc closed up 78 points at .8814 today.
Prices closed nearer the session high today on short
covering. Bears still have the slight near-term technical
advantage in the Swissy. The next upside price objective
for the bulls is closing prices above solid resistance at
the March high of .8980.
The June Canadian dollar closed up 108 points at .8056
today. Prices closed nearer the session high today. Short
covering was featured. Bears still have the near-term
technical advantage. Bulls' next upside price objective is
producing a close above solid chart resistance at the March
high of .8209.
The June British pound closed up 249 points at 1.4701
today. Prices closed nearer the session high again today.
The next upside price objective for the bulls is closing
prices above solid technical resistance at the February
high of 1.4950.
The June U.S. dollar index closed down 109 points at 84.87
today. Prices closed nearer the session low today. Bulls
faded today. Bulls' next upside price objective is to close
prices above solid technical resistance at this week's high
of 86.61.
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PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals
METALS: June gold futures closed down $22.40 at $905.30
today. Prices closed nearer the session low today and hit a
fresh three-week low. A stronger U.S. stock market and
increased investor risk appetite today sunk the gold
market. Some near-term chart damage was inflicted today.
Bulls still have the slight overall near-term technical
advantage.
May silver futures closed down 3.5 cents at $12.94 an ounce
today. Prices closed nearer the session high. The key
"outside markets" were very bullish for silver today, as
the U.S. dollar was solidly lower and crude oil and
equities prices were sharply higher. Yet, silver could gain
no momentum from the outside markets today.
May N.Y. copper closed up 485 points at 189.75 cents today.
Prices closed nearer the session high and hit a fresh five-
month high today. The key "outside markets" were very
bullish for copper today, as the U.S. dollar was solidly
lower and crude oil and equities prices were sharply
higher. Copper prices are still in a five-week-old uptrend
on the daily bar chart.
FOOD & FIBER http://quotes.ino.com/exchanges/?c=food
SOFTS: May sugar closed up 33 points at 13.06 cents
today. Prices closed nearer the session high today on short
covering and fresh speculative buying. The key "outside
markets" were very bullish for sugar today, as the U.S.
dollar was solidly lower and crude oil and equities prices
were sharply higher. Sugar bears still have the slight
near-term technical advantage.
May coffee closed up 260 points at 117.10 cents today.
Prices closed nearer the session high today on short
covering and fresh speculative buying. The key "outside
markets" were very bullish for coffee today, as the U.S.
dollar was solidly lower and crude oil and equities prices
were sharply higher. Coffee bears still have the slight
near-term technical advantage.
May cocoa closed up $84 at $2,702 today. Prices closed
nearer the session high today and hit a fresh nine-week
high. The key "outside markets" were very bullish for cocoa
today, as the U.S. dollar was solidly lower and crude oil
and equities prices were sharply higher.
May cotton closed down 2 points at 46.13 cents today.
Prices closed nearer the session low again today, but did
hit another fresh six-week high. The key "outside markets"
were very bullish for cotton today, as the U.S. dollar was
solidly lower and crude oil and equities prices were
sharply higher. Bulls have gained fresh upside near-term
technical momentum this week, but need to show fresh power
soon to keep it.
May orange juice closed up 75 points at $.7525. Prices
closed nearer the session high today on short covering. The
FCOJ bears still have the overall near-term technical
advantage. The next downside technical objective for the
FCOJ bears is to produce a close below solid technical
support at last week's low of $.7130.
May lumber futures closed up $4.20 at $179.50 today. Prices
closed near mid-range and did hit another fresh seven-week
high today. Bulls are gaining fresh upside near-term
technical momentum. The next upside technical objective for
the lumber bulls is pushing and closing prices above solid
technical resistance at the February high of $187.50.
GRAINS http://quotes.ino.com/exchanges/?c=grains
GRAINS: May corn futures closed up 5 1/4 cents at $4.01
1/4 today. Prices closed near mid-range today and did hit a
fresh nine-week high today. The key "outside markets" were
very bullish for corn today, as the U.S. dollar was solidly
lower and crude oil and equities prices were sharply
higher. Weekly USDA export sales for corn today were also
bullish.
May soybeans closed up 22 1/2 cents at $9.74 1/2 a bushel
today. Prices closed nearer the session high today and hit
a fresh seven-week high. The key "outside markets" were
very bullish for soybeans today, as the U.S. dollar was
solidly lower and crude oil and equities prices were
sharply higher. Weekly USDA export sales for beans were
also bullish today. Bean bulls this week have gained fresh
upside near-term technical momentum.
May soybean meal closed up $3.10 at $297.40 today. Prices
closed nearer the session low today. Bulls have gained some
near-term technical momentum this week. The next upside
price objective for the bulls is to produce a close above
solid technical resistance at the March high of $308.80.
May bean oil closed up 160 points at 35.10 cents today.
Prices closed near the session high and hit a fresh nine-
week high today. Price action also saw a big and bullish
upside "breakout" from a recent trading range.
May Chicago SRW wheat closed up 25 cents at $5.50 1/2
today. Prices closed near the session high today and hit a
fresh two-week high. Short covering and fresh speculative
buying were featured today. The key "outside markets" were
very bullish for wheat today, as the U.S. dollar was
solidly lower and crude oil and equities prices were
sharply higher. A bullish weekly high close on Friday would
provide the wheat bulls with fresh upside near-term
technical momentum.
LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock
LIVESTOCK: June live cattle closed up $1.62 at $83.00
today. Prices gapped higher on the daily bar chart, hit a
fresh five-week high and then did back off the high to
close near mid-range. The key "outside markets" were very
bullish for cattle today, as the U.S. dollar was solidly
lower and crude oil and equities prices were sharply
higher. The cattle bears still have the solid near-term
technical advantage.
May feeder cattle closed up $1.70 at $95.65 today. Prices
closed nearer the session high today on short covering.
Bears still have the overall near-term technical advantage.
The next upside price objective for the feeder bulls is to
push prices above solid technical resistance at $98.00.
June lean hogs closed up $0.65 at $72.10 today. Prices
closed nearer the session high today. The key "outside
markets" were very bullish for hogs today, as the U.S.
dollar was solidly lower and crude oil and equities prices
were sharply higher. Yet, hogs could only manage tepid
gains, and that shows the bearish nature of the hog market
fundamentals at present.
May pork bellies closed up $0.80 at $87.80 today. Prices
closed near the session high. Bulls have gained some upside
near-term technical momentum. The next upside price
objective for the bulls is pushing and closing prices above
solid technical resistance at $90.00.
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E X T R E M E F U T U R E S
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Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/
WINNERS
CL.K09 CRUDE OIL May 2009 52.64 4.25 +8.85
RB.K09 RBOB GASOLINE May 2009 1.4698 0.0981 +7.17
HO.K09 HEATING OIL May 2009 1.4391 0.0933 +6.93
EMX MSCI EMERGING MARKETS INDEX 615.00 34.24 +5.90
GI.J09 S&P GSCI COMMODITY INDEX Apr 2009 373.8 20.6 +5.83
NK.M09 NIKKEI 225 INDEX Jun 2009 9035 420 +4.88
BO.K09 SOYBEAN OIL May 2009 35.10 1.60 +4.77
W.K09 WHEAT May 2009 550.0 24.5 +4.67
YW.K09 WHEAT (MINI) May 2009 550.0 24.5 +4.66
MD.M09 S&P MIDCAP 400 INDEX Jun 2009 513.0 20.4 +4.14
LOSERS
BCX.H10 CBOT SOYBEAN CRUSH INDEX Mar 2010 62.00 -2.25 -3.50
GC.J09 GOLD Apr 2009 907.4 -18.7 -2.02
DA.M09 MILK CLASS III Jun 2009 12.24 -0.24 -1.93
RB.Y$$ CHEESE-BARRELS (SPOT) Cash 1275 -15 -1.16
US.M09 T-BOND Jun 2009 129.156250 -1.421875 -1.09
C.K10 CORN May 2010 441.75 -4.50 -1.00
KB.Y$$ CHEESE-BLOCKS (SPOT) Cash 1280 -10 -0.78
TY.M09 10 YEAR T-NOTE Jun 2009 123.375000 -0.906250 -0.73
JY.Y$$ JAPANESE YEN Cash 0.010065 -0.000072 -0.71
LH.J09 LEAN HOGS Apr 2009 59.75 -0.40 -0.67
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E X T R E M E S T O C K S
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Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/
WINNERS
NAUN NATIONAL UNDERWRITER 12.26 3.30 +36.83
RCRC RC 2 CORP 7.05 1.64 +30.31
FIATY FIAT SPA ADS 9.19 2.04 +28.53
HNDAF HONDA MOTOR CO LTD 28.600 5.450 +23.54
ATLS ATLAS AMERICA INC 10.81 2.00 +22.70
AWI ARMSTRONG WORLD IND INC 13.54 2.44 +22.07
FRPT FORCE PROTECTION INC 5.93 1.06 +21.97
CTV COMMSCOPE INC 14.53 2.63 +21.93
WYN WYNDHAM WORLDWIDE CORP 5.75 1.00 +21.26
WYNN WYNN RESORTS LTD 25.9450 4.3950 +20.42
LOSERS
NSEC NATIONAL SECURITY GROUP 8.19 -2.66 -24.52
CSB COLONIAL 8.875% PR 6.662 -1.488 -18.26
HOD HORIZONS BETAPRO NYMEX CL BEAR 19.71 -3.97 -16.68
LNC.PR.G LINCOLN NATIONAL 6.75 CAP 66 10.49 -2.00 -16.01
HGU HORIZONS BETAPRO GLOBAL GOLD BULL 13.37 -2.20 -14.13
AMLN AMYLIN PHARMACEUTICALS 10.435 -1.615 -13.44
MANH MANHATTAN ASSOCIATES INC 15.19 -2.22 -12.75
K.WS.C KINROSS GOLD CORP 5.45 -0.76 -12.24
HZNSF HORIZONS BETRAPRO 10.8620 -1.4001 -11.42
NAV NAVISTAR INTL CORP 30.00 -3.83 -11.32
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