Home | Recent | T-bonds Get Some Relief

T-bonds Get Some Relief

  • November 19, 2001
  • Marc Dupee

Following their worst week in two years, T-bonds
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second time this morning forming a double bottom support. This level was
pointed out in Monday’s
Futures Setups as one bonds could bounce from in a “reaction
rally.”  

December crude oil
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lapped lower to below $17 a
barrel, the lowest level in nearly two-and-a-half-years. Oil exporters this
week hope Norway, Mexico and Russia, the three biggest non-OPEC producers,
will collude to cut production in concert with the cartel to raise oil
prices. Russia has said it will not comply. There is concern that even if
the Russian government agrees to curb production, renegade oil companies
operating across the largest country in the world’s 12 time zones will “cheat”
and sell as much oil as they can on the world market.

After gapping lower, crude,
heating oil
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have recovered slightly in tail patterns that suggest support and a slight
recovery. 

Also from Monday’s
Futures Setups,
natural gas
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Turtle Soup Plus One Buy setup and trading on the top of its range.

December
dollar index futures
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three-month high after Germany, an economy that accounts for one-third of
the GDP for the 12-country European Community, said its economy slowed last
quarter. At the same time, an ECB official said interest rates were low
enough, implying the central bank would not cut interest rates to revive
Euroland’s economy. Euro FX futures
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are recovering off the lows. 

December gold
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indication and directional cue by registering on the
Implosion-5 List. Gold is trading at a three-month low. 

December
live cattle
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