Crude Oil Hits Nine-Year High
Energy prices shot up after Iraq said it would suspend oil exports. January crude oil [CLF0>CLF0], from the Momentum-5 List,
shot up to its highest level since the Persian Gulf War and gained .93 to 27.07. Unleaded gas [HUF0>HUF0] rose .0222 to .7333 and heating oil [HOF0>HOF0] rallied .0123 to .6940. But natural gas [NGF0>NGF0] fell 7.5% (-.192 to 2.372) as warm weather in the east held supplies at high levels.
Higher oil prices have reignited inflation jitters among bond traders. December T-bonds [USZ9>USZ9], from the Pullback Off Lows List, fell 12/32 to a 10-day low of 113 8/32.
Stock index futures ended mixed. From the Momentum-5 List, NASDAQ 100 futures [NDZ9>NDZ9] rallied for a third day to a new all-time high and ended the day 22.50 higher at 3069.00. Dow futures [DJZ9>DJZ9] gained 92.0 to 11,142.0 and the S&P futures [SPZ9>SPZ9] slipped fractionally to 1327.20.
In the currencies, the Japanese yen [JYZ9>JYZ9] popped higher on reports suggesting the economy continues recovering. The yen also made good on a Turtle Soup Plus One Buy setup and closed .0133 higher at .9569. December dollar index futures [DXZ9>DXZ9] slipped, falling .19 to 100.62.
December gold [GCZ9>GCZ9] which registered on the 6/100 Low Volatility List and traded within a very narrow range, finished down .1 at 295.6. Gold last registered on Low Volatility Lists in September, prior to an historic, 67.0 move. December silver [SIZ9>SIZ9] fell 7.0 to 520.0.
The grains managed to move slightly higher. However, December soybean oil [BOZ9>BOZ9] ended down .09 at 16.40 and made good on its Turtle Soup Plus One Sell set up.
February pork bellies [PBG0>PBG0] slipped 1.375 to 75.000, forming an inside day near recent highs.
March cocoa [CCH0>CCH0] rallied 17 to 866. Cotton also continued rebounding off lows and ended .87 higher at 114.70.