Surging Equities Spur Dollar Index Futures To Three-Month High
Record highs in the Nasdaq Composite and S&P 500 fanned the flames under a hotter dollar, sending dollar index futures [DXZ9>DXZ9] to a multi-month high. The December contract has been in a strong up trend, evidenced by its HREF=”https://tradingmarkets.com.site/eminis/indicators/actionsigs/adxc.cfm”>ADX Reading of 32, and ended .87 higher at 100.95.
The Swiss franc [SFZ9>SFZ9] and British pound [BPZ9>BPZ9], contracts in strong down trends with ADX Readings of 30 that also registered on the Pullback Off Lows List, dropped .0073 and .0094, respectively.
December T-bonds [USZ9>USZ9] traded on both sides of break even and ended the day down 8/32 at 113 19/32.
NASDAQ 100 futures [NDZ9>NDZ9] made good on their Momentum-5 List reading, rallying 88.00 to a record 3018.00. December Dow futures [DJZ9>DJZ9] rose 137.0 to 11,070.0 and S&P futures [SPZ9>SPZ9] gained 11.00 to 1429.00.
Energy futures in the oil complex gave back all of their gains made yesterday, falling between 2.58 % and 3.26%: January crude [CLF0>CLF0] fell .67 to 25.33, unleaded gas [HUF0>HUF0] lost .0226 to .6945 and heating oil [HOF0>HOF0] slipped .0025 to .6669.
Silver [SIZ9>SIZ9] appears to be forming a base at recent lows. The December contract formed an inside day today, gaining 4.2 to close at 515.0.
Grains slipped on improved harvest prospects. December corn [CZ9>CZ9] and November soybeans [SF0>SF0] both registered on the Implosion-5 List and fell 2 and 6 1/2, respectively. Wheat [WZ9>WZ9] fell 5 1/4 to 240 1/2.
December coffee [KCZ9>KCZ9] sank 10%, or 13.10, to 111.95. March sugar [SBH0>SBH0] fell .19 to 6.04.