Groundhog Day
Marc Dupee will be out of the
office until November 10. In his absence this column is being written by
TradersWire’s Duke Heberlein.
I feel like Bill Murray’s character in the movie
“Groundhog Day” — I seem to keep reliving the same day over and over.
There still is no president, and as the recount goes on and on and on, the talking
heads keep giving us their analysis ad infinitum, and the European Cental Bank —
guess what — intervened in the Euro FX
(
ECZ0 |
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PowerRating) for the fifth time since
September.
Orange juice
(
OJF1 |
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PowerRating), off the Momentum-5
List, is closing in on a breakout above an area of previous resistance,
appearing to be keeping its recent momentum intact.
December lean hogs
(
LHZ0 |
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PowerRating)Â is
sitting at an inflection point. It is on the Pullback
From Lows List, but is also sitting in a mini cup and handle. Traders could
be looking to play the contract in either direction.
Finally, coffee
(
KCZ0 |
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PowerRating), and December
gold
(
GCZ0 |
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Chart |
News |
PowerRating), on both the 6/100
Low Volatility List and the 10/100
List, continue to have the potential for larger-than-average moves when
volatility reverts to its mean.