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 Implosion-5 List.
Stock index futures bucked today’s downdraft in futures, getting a boost from Apple computer and cyclicals. December Dow futures [DJZ9>DJZ9] gained 72.0 to 10,335 and NASDAQ 100 futures [NDZ9>NDZ9] rose 19.50 to 2494.50. S&P futures [SPZ9>SPZ9] finished less than 1 higher at 1290.00 but traded as many as 10 points on both sides of break even during the session.
British pounds [BPZ9>BPZ9] were poised to make a move after registering on theMultiple 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 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.