Oil Stages Late Rally
Crude oil [CLF0>CLF0] jumped .50 in the last half-hour of trading to end on an up-note, turning around a two-day slide that took the contract as much as 10% lower. The January contract ended .36 higher at 24.95.
Like crude, heating oil [HOF0>HOF0] registered on the Pullback Off Highs List and ended .0052 higher at .6435. Unleaded gas also [HUF0>HUF0] added .0091 to .6435 and natural gas [NGF0>NGF0] sprang up .091 to end at 2.395.
March T-bonds [USH0>USH0] continued their recent slide to end 8/32 lower at 92 26/32.
A rally in equities bolstered the dollar, sending December dollar index futures [DXZ9>DXZ9], from the Momentum-5 List, .14 higher to 102.05. Bank of Japan intervention and lower equity prices in Tokyo helped send the yen [JYZ9>JYZ9] down .0077 to .9756.
The metals took the day off: February gold [GCG0>GCGO] fell 1.1 to 291.9, March silver [SIH0>SIH0] lost 2.2 to 521.8 and copper [HGH0>HGH0] lost 1.15 to close at 80.65.
The grains remained quiet but finished mixed with both March wheat [WH0>WH0] and corn [CH0>CH0] gaining 2 while soybeans and their products finishing fractionally lower.
February pork bellies [PBG0>PBG0] and live cattle [LCF>LCF0] saw most of the action in the meats today, falling 1.500 to 75.325 and .825 to 69.225, respectively.
After surging to a contract high Tuesday, March coffee [KCH0>KCH0] made good on its Turtle Soup Plus One Sell signal, falling 3.75 to 130.55. Cocoa [CCH0>CCH0] also fell back from steep gains Tuesday, falling 32 to 867. January orange juice [OJF0>OJF0] fell sharply in the final hour of trading after hitting a 20-day high to end .20 lower at 96.85.