Down Day For Most Futures
T-bonds, metals, energies, grains, cattle and softs and fibers contracts all lost ground today, sending the Commodity Research Bureau Index down from recent highs.
T-bonds [USZ9>USZ9] set a new low of 110 31/32, falling on unexpectedly strong September ex-auto retail sales numbers. The December contract ended down 10/32 at 111 9/32 and registered on the Multiple Days Low Volatility and Pullback Off Highs List. (They also were on yesterday’s Momentum-5 List). The December contract rallied just after 12:00 ET, gaining as many as .0120 intra-day before settling .0090 higher at 1.6646.
December dollar index futures [DXZ9>DXZ9] made good on their Turtle Soup Plus One Buy set up and finished .11 higher at 97.67. After gapping down, Japanese yen [JYZ9>JYZ9] came to within .0015 of yesterday’s close, then headed south, closing .0070 lower at .9400.
November crude [CLX9>CLX9] drifted lower for most of the session, then dived .50 in the last half-hour of trading to end down .61 at 22.45. Unleaded gas [HUX9>HUX9] fell .0128 to .6242 and heating oil [HOX9>HOX9] lost .0110 to .5851. Natural gas [NGX9>NGX9] made good on its Turtle Soup Plus One Sell signal, gapping lower and trading down to close .136 lower at 2.834.
Metals broke down from descending triangles: December gold [GCZ9>GCZ9] slipped 7.6 to 314.2 and December silver [SIZ9>SIZ9] lost 26.0 to 534.0.
The grains again traded in a narrow range and finished mixed.
November soybeans [SX9>SX9] fell 3 to 496 3/4.
Cattle continued lower after a big downdraft yesterday. February pork bellies [PBG0>PBG0] rallied up 1.500 to 64.300, approaching recent highs and forming an ascending (bullish) triangle.
Coffee [KCZ9>KCZ9] could not maintain yesterday’s dramatic gains. The December contract gave back more than half of the 26 points it gained yesterday then finished down 12.25 at 107.10. December cocoa [CCZ9>CCZ9] traded within a 40-point range, but ended down just 4 at 949.
Finally, December cotton [CTZ9>CTZ9] shot up to a 20-day high then closed .16 lower at 54.51.