What’s In Store For Next Week?
S&P 500 index futures
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rallied after an opening gap to the downside, but couldn’t sustain the rally as
they slid into the close over the final hour. The Nasdaq 100
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fared much the same, falling more than 15 points by the end after some
mid-afternoon choppiness. This action could spill over into next week’s holiday-shortened session.
Bonds got a boost from the late-session selling in the equity futures, as
Treasuries
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gained 045 to end the Friday at 113 055.
Biotechs
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(-2.30) and Internets
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equity markets in the move lower.
Soybean Oil
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average, while
Soybeans
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area of their recent uptrend lines. Corn
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still looks like it has downside potential out of a sloping head-and-shoulders
formation, and Wheat
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grain group, adding 7 points by the close.
Cocoa
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thrust higher, falling 15 after rising 65 points in three sessions. Orange Juice
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is trying to stabilize after falling below the 20-day moving average, while
Sugar
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cents. Coffee
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reversed two days’ worth of upside action, falling 0.31 to 46.47.
In the energy complex, Crude Oil
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chart, with Crude Oil
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greater intraday range. Heating Oil
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HOU2 |
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continues to trade in a triangle at the level of its recent highs.
Metals were mixed, with Copper
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closing in the green with a gain of 0.002 to close at 0.6955, and Gold
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rebounded somewhat off its 10:00 a.m. bottom, but slid lower again into the close. Silver
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fell out of a countertrend rally, falling 0.089 to 4.468 in Friday’s trading.
The US Dollar
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moving average Thursday, which sparked selling of the inversely related foreign
currencies. The British Pound
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session unchanged, with the Canadian Dollar
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PowerRating), Swiss Franc and Euro
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PowerRating) falling into the red.