The German Machine
From the
Pullback From Highs List,
euro FX futures
(
ECH1 |
Quote |
Chart |
News |
PowerRating) and
Swiss francs
(
SFH1 |
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Chart |
News |
PowerRating) gapped in overnight trading out of their pullback
setups and are continuing higher, trading on the top of today’s range. Germany,
Europe’s largest economy, said its GDP grew slightly more than expectations in
2000 to 3.1%, up from 1.66% in 1999. The growth in the German economy is
expected to carry over into 2001, spurring today’s move higher.Â
March wheat
(
WH1 |
Quote |
Chart |
News |
PowerRating), from the Momentum-5
List, is continuing through on recent momentum on a USDA report that said
“seedlings” plantings were below expectations, reducing the crop
forecast. Wheat is up 2 at 291.
Also from the Momentum-5
List, cocoa
(
CCH1 |
Quote |
Chart |
News |
PowerRating) is up a hefty 3.34%, or 27 at 836.
Natural gas
(
NGG1 |
Quote |
Chart |
News |
PowerRating)
is down for a second straight day after closing at an all-time record Tuesday
after Wednesday’s American Gas Association report showed stockpiles increased
more than during the same period (week) last year. The decline comes despite a
slightly under-estimate AGA, which may account for the February contract
recapturing almost all the losses from its gap-down levels. Gas is trading at
the gap-down levels, down .468 at 8.660.
February pork bellies
(
PBG1 |
Quote |
Chart |
News |
PowerRating) are trading
right at their Turtle
Soup Plus One Buy
trigger.