Euros Ditch Bucks

• December 21, 2000
• Marc Dupee

Traders are swapping their greenbacks for European
currencies, sending the
March dollar index futures
(
DXH1 |
Quote |
Chart |
News |
PowerRating) to multi-month lows as euro FX futures
(
ECH1 |
Quote |
Chart |
News |
PowerRating),
Swiss francs
(
SFH1 |
Quote |
Chart |
News |
PowerRating), and the
British pound
(
BPH1 |
Quote |
Chart |
News |
PowerRating) expand to new highs. Although the European currencies
are pulling back as this alert goes to post to fill morning gaps to new
multi-month highs, the collective move above key levels in these currencies
points to the chance for a secular change in the relative economic standings of
the US and the continental economies. (Euro FXs, franc, and pound futures were
all on the
New 10-Day Low List). 

Although their big gap-down move yesterday left them too
low to trigger their Turtle Soup Plus One Buy
setup, S&P futures
(
SPH1 |
Quote |
Chart |
News |
PowerRating) are rallying along with
Nasdaq 100
(
NDH1 |
Quote |
Chart |
News |
PowerRating) and
Dow futures
(
DJH1 |
Quote |
Chart |
News |
PowerRating). 

Like stock index futures,
eTurtle Soup Plus One Buy
triggers. 

Natural gas
(
NGG1 |
Quote |
Chart |
News |
PowerRating)
continues to hit new highs, taking advantage of continuing cold in the country’s
midsection and lower-than-normal stockpiles of the heating fuel. 

Soymeal
(
SMF1 |
Quote |
Chart |
News |
PowerRating) is down slightly out of a Turtle Soup Plus One
Sell setup, but is down just .5 at 191.5. The contract looks explosive due
to its 6/100 Low Volatility
and Multiple Days Low
Volatility List
readings. Meal is also on the Momentum-5
List and set up in a bullish flag, implying an upside directional bias.