What’s At A 19-Month High?
U.S. stocks slumped, driving the Nasdaq
Composite Index
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said he saw no sign of a sales rebound in Europe.
The Dec Nasdaq 100 futures
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traded negative all day long, attempting a move to the upside during the last
hour of trade, but failing and ending the day down 25.50 or 2.91%, at 850.
The S&P 500 futures for Dec.
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fell to a low level hitting the -1.0 Vol. band and tried a couple of times to
move higher, but failed and ended the choppy session at 834.20 down 8 points.
The energy markets got a boost
today when Crude oil rose to a 19- month high after Iraq refused to accept any
new United Nations resolutions on weapons inspections, raising the chances of a
U.S. attack on the number two supplier of oil from the Middle East. Technically,
crude oil broke out of an ascending triangle with increasing volume. Nov.
crude oil
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gasoline
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In the grains, profit takers
ruled the market today with wheat being the biggest loser. Dec. wheat
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Nov. soybeans
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to $5.53 1/4 a bushel. Dec. corn lost 4 1/2 cents or 1.74% to close at $2.54 1/4
a bushel.
The metals were mixed today,
with Dec. gold
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