Gold Rallies Again
December gold [GCZ9>GCZ9] followed through on yesterday’s big up move, adding another 3.7 to close at 265.5. Gold’s big bounce out of a prolonged base placed it on the Momentum-5 List. Copper [HGZ9>HGZ9] went the other way, falling 1.45 off recent highs to close at 82.20.
December T-bonds [USZ9>USZ9] gained 4/32 to 113 21/32.
Stock index futures had a slightly negative bias going into today: Dow futures registered on the Implosion-5 List and NASDAQ 100 futures were on the Pullback Off Highs List. December Dow futures [DJZ9>DJZ9] fell 83.0 to 10,607, S&P futures [SPZ9>SPZ9] slipped .10 to 1321.80 and NASDAQ 100 futures [NDZ9>NDZ9] rallied 25.00 to 2536.50.
December dollar index futures [DXZ9>DXZ9] turned around during the session to end .16 higher at 99.45. Traders pushed the yen [JYZ9>JYZ9] up another .0076 to .9730, after the Japanese government failed to ease their monetary policy, but British pounds [BPZ9>BPZ9] staged a big turnaround after being up more than .0100. The December contract ended .0030 lower at 1.6286.
In the energies, October unleaded gas [HUV9>HUV9] shot up .0108 to .6685, after registering on the 6/100 Low Volatility List. October crude [CLV9>CLV9], from the Momentum-5 List, also gained .18 to close at 24.12.
The grains closed mostly higher in narrow trading and should be watched for volatility set-ups.
October lean hogs [LHV9>LHV9] gained .725 to 45.550 and February pork bellies [PBG0>PBG0] followed up on yesterdays limit-up move, adding another 2.875 to 59.650.
Coffee [KCZ9>KCZ9], registered on both the Multiple Days Low Volatility and Implosion-5 lists: The December contract ended at a new low, down .85 at 81.80.
December cocoa [CCZ9>CCZ9] rallied 28 to 976 and November orange juice [OJX9>OJX9] shot up 3.10 to 93.85.