Nasdaq 100 Futures Close At A New Record
Nasdaq 100 futures rallied to a new high, closing above 2700 for the first time. The December contract is in the number one slot on the Momentum-5 List and gained 53.00 on the day to close at 2694.50.
Also from the Momentum-5 List, S&P futures [SPZ9>SPZ9], gained 8.00 to close at 1360.50 and formed an inside day. Dow futures [DJZ9>DJZ9] also rallied 46.0 to 10,652.0.
In a volatile day of trading, December T-bonds [USZ9>USZ9] gapped down almost one-half point, then rallied back to set a new 20-day high before sagging and finishing unchanged at 113 17/32.
December dollar index futures [DXZ9>DXZ9] posted solid gains today, rallying .39 to 99.42. Currency futures sagged as dollars flowed into US equity and bond markets.
Japanese yen [JYZ9>JYZ9] dropped .0072 to .9588 and Swiss francs [SFZ9>SFZ9] fell to a 20-day low, falling .0032 to .6541.
The energies rose despite reports today showing OPEC compliance with production quotas slipped last month. December crude [CLZ9>CLZ9] rose .17 to 22.56, unleaded gas [HUZ9>HUZ9] rose .0056 to .6342, heating oil [HOZ9>HOZ9] gained .0110 to .6051 and natural gas [NGZ9>NGZ9] gained .036 to 2.873.
The metals were quiet today. December gold [GCZ9>GCZ9] added .9 to close at 293.3.
In the grains, wheat and corn rose while soybeans slipped fractionally. December wheat [WZ9>WZ9] rose 4 to 259 1/4 and corn [CZ9>CZ9] added 2 1/2 to 201 1/2.
Lean hogs [LHZ9>LHZ9] were the biggest percent gainer in the meats, rising .875 to 44.850.
December cocoa [CCZ9>CCZ9] gapped down to a life-of-contract low of 830, but recovered to end the day up 15 at 855, closing just below its Turtle Soup Plus One Buy trigger-point.
Finally, orange juice [OJF0>OJF0] futures jumped to a 20-day high on dry weather forecasts in Brazil and weaker-than-expected crop harvest forecasts in Florida. Orange juice’s Multiple Days Low Volatility reading suggested the contract could make a large move today and its standing on the Momentum-5 List
indicated the direction of the move would be up. The November contract closed 1.15 higher at 92.35.