How Sweet It Is
March 2002 sugar
(
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PowerRating), in trading
that only lasts for 90 minutes due to dislocations that occurred at the WTC,
jolted higher and is set to close at a one-month high. “Nascent
momentum” off recent lows was pointed out in this contract in Tuesday’s Nightly
Futures Report.
T-bonds
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USZ1 |
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PowerRating) are remaining resilient
ahead of the Fed’s Beige Book regional economic survey. There appears to be a
strong bid to buy the fear ahead of anticipation the report will be bad. This
sometimes implies the market will sell off once the report is released in
“buy the rumor, sell the news” action. A breach of 106 26/32 is a
place to test short. A break of that area implies new highs. The report is
slated for release at 2:00 PM ET.
December lean hogs
(
LHZ1 |
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PowerRating), pointed out as being a Pullback From
Lows candidate earlier
this week and on last night’s Pullback
From Lows List, are getting hammered as they head to new lows.