***BOND MARKET RECAP - 9/25/2009
December Bonds finished up 0-290 at 120-280, 0-070 off the high and 0-310 up from the low.
December 10 Yr Treasury Notes closed up 0-090 at 117-315. This was 0-145 up from the low and 0-050 off the high.
Technical Outlook
BONDS (DEC) 09/28/2009: Stochastics are at mid-range but trending higher, which should reinforce a move higher if resistance levels are taken out. The market's close above the 9-day moving average suggests the short-term trend remains positive. There could be more upside follow through since the market closed above the 2nd swing resistance. The next upside target is 121-280. The next area of resistance is around 121-150 and 121-280, while 1st support hits today at 120-090 and below there at 119-150.
10 YR TREASURY NOTES (DEC) 09/28/2009: Momentum studies are trending higher from mid-range, which should support a move higher if resistance levels are penetrated. The market's short-term trend is positive on the close above the 9-day moving average. The close over the pivot swing is a somewhat positive setup. The next upside target is 118-170. The next area of resistance is around 118-105 and 118-170, while 1st support hits today at 117-235 and below there at 117-105.
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***STOCK INDICES RECAP - 9/25/2009
December S&P closed down 2.8 at 1041.5. This was 5.2 up from the low and 7.5 off the high. December S&P E-Mini finished down 3 at 1041.25, 8.25 off the high and 5 up from the low.
December Dow finished down 11 at 9624, 51 off the high and 47 up from the low.
Technical Outlook
S&P 500 (DEC) 09/28/2009: Momentum studies trending lower at mid-range could accelerate a price break if support levels are broken. A negative signal for trend short-term was given on a close under the 9-bar moving average. The market tilt is slightly negative with the close under the pivot. The next downside target is now at 1029.08. The next area of resistance is around 1048.05 and 1055.27, while 1st support hits today at 1034.95 and below there at 1029.08.
S&P E-MINI (DEC) 09/28/2009: Declining momentum studies in the neutral zone will tend to reinforce lower price action. The market's close below the 9-day moving average is an indication the short-term trend remains negative. It is a slightly negative indicator that the close was under the swing pivot. The next downside objective is now at 1028.82. The next area of resistance is around 1047.87 and 1055.31, while 1st support hits today at 1034.63 and below there at 1028.82.
NASDAQ (DEC) 09/28/2009: Declining momentum studies in the neutral zone will tend
to reinforce lower price action. The close below the 9-day moving average is a negative short-term indicator for trend. The market's close below the pivot swing number is a mildly negative setup. The next downside objective is 1676.63. The next area of resistance is around 1707.75 and 1719.62, while 1st support hits today at 1686.25 and below there at 1676.63.
DOW (DEC) 09/28/2009: Momentum studies are trending lower from high levels which
should accelerate a move lower on a break below the 1st swing support. The close below the 9-day moving average is a negative short-term indicator for trend. It is a slightly negative indicator that the close was lower than the pivot swing number. The next downside objective is 9554. The next area of resistance is around 9650 and 9699, while 1st support hits today at 9578 and below there at 9554.
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***CURRENCY MARKET RECAP - 9/25/2009
December US Dollar closed down 0.14 at 76.975. This was 0.290 up from the low and 0.310 off the high.
December Euro closed up 0.19 at 146.72. This was 0.58 up from the low and 0.53 off the high.
December Japanese Yen finished up 1.86 at 111.45, 0.33 off the high and 1.94 up from the low.
December Swiss finished up 0.19 at 97.32, 0.38 off the high and 0.57 up from the low.
December Canadian Dollar finished down 0.25 at 91.49, 0.6 off the high and 0.44 up from the low.
December British Pound closed down 1.29 at 159.31. This was 0.16 up from the low and 1.33 off the high.
Technical Outlook
JAPANESE YEN (DEC) 09/28/2009: The daily stochastics have crossed over up which is a bullish indication. Studies are showing positive momentum but are now in overbought territory, so some caution is warranted. A positive signal for trend short-term was given on a close over the 9-bar moving average. There could be more upside follow through since the market closed above the 2nd swing resistance. The near-term upside target is at 113.32. With a reading over 70, the 9-day RSI is approaching overbought levels. The next area of resistance is around 112.59 and 113.32, while 1st support hits today at 110.33 and below there at 108.79.
EURO (DEC) 09/28/2009: Momentum studies are trending lower from high levels which should accelerate a move lower on a break below the 1st swing support. The market's lose below the 9-day moving average is an indication the short-term trend remains negative. The upside daily closing price reversal gives the market a bullish tilt. It is a slightly negative indicator that the close was lower than the pivot swing number. The next downside objective is now at 145.61. The next area of resistance is around 147.29 and 147.82, while 1st support hits today at 146.19 and below there at 145.61.
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***PRECIOUS METALS RECAP - 9/25/2009
December Gold closed down 7.3 at 991.6. This was 6.1 up from the low and 6.8 off the high.
December Silver finished down 0.235 at 16.06, 0.25 off the high and 0.105 up from the low.
Technical Outlook
COMEX SILVER (DEC) 09/28/2009: Stochastics trending lower at midrange will tend
to reinforce a move lower especially if support levels are taken out. The market's close below the 9-day moving average is an indication the short-term trend remains negative. The market's close below the pivot swing number is a mildly negative setup. The next downside target is now at 1566.7. The next area of resistance is around 1628.7 and 1657.6, while 1st support hits today at 1583.3 and below there at 1566.7.
COMEX GOLD (DEC) 09/28/2009: Stochastics trending lower at midrange will tend to
reinforce a move lower especially if support levels are taken out. The close under the 18-day moving average indicates the intermediate-term trend could be turning down. It is a slightly negative indicator that the close was lower than the pivot swing number. The next downside target is now at 977.5. The next area of resistance is around 999.5 and 1007.5, while 1st support hits today at 984.5 and below there at 977.5.
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***ENERGY MARKET RECAP - 9/25/2009
November Crude Oil closed up 0.19 at 66.08. This was 1.03 up from the low and 1.01 off the high.
November Heating Oil closed down 0.08 at 171.00. This was 2.34 up from the low and 2.50 off the high.
November RBOB Gasoline finished down 1.38 at 163.55, 2.70 off the high and 1.96 up from the low.
November Natural Gas finished up 0.04 at 4.94, 0.05 off the high and 0.16 up from the low.
Technical Outlook
CRUDE OIL (NOV) 09/28/2009: Daily stochastics declining into oversold territory suggest the selling may be drying up soon. The close below the 9-day moving average is a negative short-term indicator for trend. The daily closing price reversal up on the daily chart is somewhat positive. The market's close below the pivot swing number is a mildly negative setup. The next downside target is 64.03. The next area of resistance is around 67.08 and 68.11, while 1st support hits today at 65.05 and below there at 64.03.
RBOB GAS (NOV) 09/28/2009: Daily stochastics declining into oversold territory suggest the selling may be drying up soon. The close below the 9-day moving average is a negative short-term indicator for trend. It is a slightly negative indicator that the close was lower than the pivot swing number. The next downside objective is now at 159.08. Some caution in pressing the downside is warranted with the RSI under 30. The next area of resistance is around 165.88 and 168.39, while 1st support hits today at 161.22 and below there at 159.08.
HEATING OIL (NOV) 09/28/2009: Daily stochastics are trending lower but have declined into oversold territory. The close below the 9-day moving average is a negative short-term indicator for trend. It is a slightly negative indicator that the close was under the swing pivot. The next downside target is now at 166.20. The next area of resistance is around 173.42 and 175.88, while 1st support hits today at 168.58 and below there at 166.20.
December Bonds finished up 0-290 at 120-280, 0-070 off the high and 0-310 up from the low.
December 10 Yr Treasury Notes closed up 0-090 at 117-315. This was 0-145 up from the low and 0-050 off the high.
Technical Outlook
BONDS (DEC) 09/28/2009: Stochastics are at mid-range but trending higher, which should reinforce a move higher if resistance levels are taken out. The market's close above the 9-day moving average suggests the short-term trend remains positive. There could be more upside follow through since the market closed above the 2nd swing resistance. The next upside target is 121-280. The next area of resistance is around 121-150 and 121-280, while 1st support hits today at 120-090 and below there at 119-150.
10 YR TREASURY NOTES (DEC) 09/28/2009: Momentum studies are trending higher from mid-range, which should support a move higher if resistance levels are penetrated. The market's short-term trend is positive on the close above the 9-day moving average. The close over the pivot swing is a somewhat positive setup. The next upside target is 118-170. The next area of resistance is around 118-105 and 118-170, while 1st support hits today at 117-235 and below there at 117-105.
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***STOCK INDICES RECAP - 9/25/2009
December S&P closed down 2.8 at 1041.5. This was 5.2 up from the low and 7.5 off the high. December S&P E-Mini finished down 3 at 1041.25, 8.25 off the high and 5 up from the low.
December Dow finished down 11 at 9624, 51 off the high and 47 up from the low.
Technical Outlook
S&P 500 (DEC) 09/28/2009: Momentum studies trending lower at mid-range could accelerate a price break if support levels are broken. A negative signal for trend short-term was given on a close under the 9-bar moving average. The market tilt is slightly negative with the close under the pivot. The next downside target is now at 1029.08. The next area of resistance is around 1048.05 and 1055.27, while 1st support hits today at 1034.95 and below there at 1029.08.
S&P E-MINI (DEC) 09/28/2009: Declining momentum studies in the neutral zone will tend to reinforce lower price action. The market's close below the 9-day moving average is an indication the short-term trend remains negative. It is a slightly negative indicator that the close was under the swing pivot. The next downside objective is now at 1028.82. The next area of resistance is around 1047.87 and 1055.31, while 1st support hits today at 1034.63 and below there at 1028.82.
NASDAQ (DEC) 09/28/2009: Declining momentum studies in the neutral zone will tend
to reinforce lower price action. The close below the 9-day moving average is a negative short-term indicator for trend. The market's close below the pivot swing number is a mildly negative setup. The next downside objective is 1676.63. The next area of resistance is around 1707.75 and 1719.62, while 1st support hits today at 1686.25 and below there at 1676.63.
DOW (DEC) 09/28/2009: Momentum studies are trending lower from high levels which
should accelerate a move lower on a break below the 1st swing support. The close below the 9-day moving average is a negative short-term indicator for trend. It is a slightly negative indicator that the close was lower than the pivot swing number. The next downside objective is 9554. The next area of resistance is around 9650 and 9699, while 1st support hits today at 9578 and below there at 9554.
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***CURRENCY MARKET RECAP - 9/25/2009
December US Dollar closed down 0.14 at 76.975. This was 0.290 up from the low and 0.310 off the high.
December Euro closed up 0.19 at 146.72. This was 0.58 up from the low and 0.53 off the high.
December Japanese Yen finished up 1.86 at 111.45, 0.33 off the high and 1.94 up from the low.
December Swiss finished up 0.19 at 97.32, 0.38 off the high and 0.57 up from the low.
December Canadian Dollar finished down 0.25 at 91.49, 0.6 off the high and 0.44 up from the low.
December British Pound closed down 1.29 at 159.31. This was 0.16 up from the low and 1.33 off the high.
Technical Outlook
JAPANESE YEN (DEC) 09/28/2009: The daily stochastics have crossed over up which is a bullish indication. Studies are showing positive momentum but are now in overbought territory, so some caution is warranted. A positive signal for trend short-term was given on a close over the 9-bar moving average. There could be more upside follow through since the market closed above the 2nd swing resistance. The near-term upside target is at 113.32. With a reading over 70, the 9-day RSI is approaching overbought levels. The next area of resistance is around 112.59 and 113.32, while 1st support hits today at 110.33 and below there at 108.79.
EURO (DEC) 09/28/2009: Momentum studies are trending lower from high levels which should accelerate a move lower on a break below the 1st swing support. The market's lose below the 9-day moving average is an indication the short-term trend remains negative. The upside daily closing price reversal gives the market a bullish tilt. It is a slightly negative indicator that the close was lower than the pivot swing number. The next downside objective is now at 145.61. The next area of resistance is around 147.29 and 147.82, while 1st support hits today at 146.19 and below there at 145.61.
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***PRECIOUS METALS RECAP - 9/25/2009
December Gold closed down 7.3 at 991.6. This was 6.1 up from the low and 6.8 off the high.
December Silver finished down 0.235 at 16.06, 0.25 off the high and 0.105 up from the low.
Technical Outlook
COMEX SILVER (DEC) 09/28/2009: Stochastics trending lower at midrange will tend
to reinforce a move lower especially if support levels are taken out. The market's close below the 9-day moving average is an indication the short-term trend remains negative. The market's close below the pivot swing number is a mildly negative setup. The next downside target is now at 1566.7. The next area of resistance is around 1628.7 and 1657.6, while 1st support hits today at 1583.3 and below there at 1566.7.
COMEX GOLD (DEC) 09/28/2009: Stochastics trending lower at midrange will tend to
reinforce a move lower especially if support levels are taken out. The close under the 18-day moving average indicates the intermediate-term trend could be turning down. It is a slightly negative indicator that the close was lower than the pivot swing number. The next downside target is now at 977.5. The next area of resistance is around 999.5 and 1007.5, while 1st support hits today at 984.5 and below there at 977.5.
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***ENERGY MARKET RECAP - 9/25/2009
November Crude Oil closed up 0.19 at 66.08. This was 1.03 up from the low and 1.01 off the high.
November Heating Oil closed down 0.08 at 171.00. This was 2.34 up from the low and 2.50 off the high.
November RBOB Gasoline finished down 1.38 at 163.55, 2.70 off the high and 1.96 up from the low.
November Natural Gas finished up 0.04 at 4.94, 0.05 off the high and 0.16 up from the low.
Technical Outlook
CRUDE OIL (NOV) 09/28/2009: Daily stochastics declining into oversold territory suggest the selling may be drying up soon. The close below the 9-day moving average is a negative short-term indicator for trend. The daily closing price reversal up on the daily chart is somewhat positive. The market's close below the pivot swing number is a mildly negative setup. The next downside target is 64.03. The next area of resistance is around 67.08 and 68.11, while 1st support hits today at 65.05 and below there at 64.03.
RBOB GAS (NOV) 09/28/2009: Daily stochastics declining into oversold territory suggest the selling may be drying up soon. The close below the 9-day moving average is a negative short-term indicator for trend. It is a slightly negative indicator that the close was lower than the pivot swing number. The next downside objective is now at 159.08. Some caution in pressing the downside is warranted with the RSI under 30. The next area of resistance is around 165.88 and 168.39, while 1st support hits today at 161.22 and below there at 159.08.
HEATING OIL (NOV) 09/28/2009: Daily stochastics are trending lower but have declined into oversold territory. The close below the 9-day moving average is a negative short-term indicator for trend. It is a slightly negative indicator that the close was under the swing pivot. The next downside target is now at 166.20. The next area of resistance is around 173.42 and 175.88, while 1st support hits today at 168.58 and below there at 166.20.
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