What Keyed The Index’s Rally…
The S&P 500 index futures
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before bottoming around noon and rallying into the close. This action has it
closing near its high for Monday’s session and with its third positive close in
the top of its range over the last four days.
The September Nasdaq 100 futures
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PowerRating), performed in a nearly
identical fashion, bottoming at approximately the same time, then moving 25
points higher to close well. This has the daily chart forming a bullish tail,
and also the third positive close over the past four trading sessions, reversing
Friday’s sell-off.
The Biotech Sector
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PowerRating) was a leader in today’s market
action, in addition to the Semiconductors
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way in the afternoon, tracing out a similar pattern to the index futures on the
intraday chart.
Over at the CBOT, Corn
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to the 20-day moving average, while Wheat
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pullback, for the second consecutive day and up more than 16 points over that
period.
Crude Oil
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the contract neared to ever important $30 per barrel level, but was unable to
penetrate it, closing at 29.29. The firming up of crude prices helped to boost
the Oil Service Index
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PowerRating), which had been getting battered in
the latter part of last week. Natural Gas
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close with a bullish tail/outside day at its recent high. Both Unleaded Gas
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top half of their ranges, and appear poised for more upside.
Softs were mostly negative, with only Orange Juice
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finishing in the green. The contract closed over the $100 level at 102.80.
Cocoa
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Finally, Gold
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as traders rushed into the index futures, ending the session Monday at 310.50,
down 0.50.