Good Morning and Happy New Year !
Whats in store for us next year ?Plenty !A lot of moves and a lot of grooves.For instance, let's look at our U.S.Treasury.Interest Rates loom to hike higher and higher.The Health Care Bill that was passed can this be beneficial to the job market or just more unemployment. The key markets to make 2010 prosperous are Interest Rates Currencies Precious Metals Agriculture and Energies.We will see moves we haven't seen since the Jimmy Carter administration.Keep in mind we now are going into the January Effect !
In last nights action we have March Corn trading at 416 3/4 which is up 3 cents as I write.The range is 418 1/4 to 412.I continue to be a Bull in this market.Staying long hopefully staying strong!
On the Energy Front we had no real surprise on the weekly inventory numbers.So we continue to trade in a range bound technical pattern.However, weakness in the U.S. Dollar coupled with winter weather and geo-political factors can doom Bear forces in this market.
Bring in the New Year best watch Phil on Fox Business channel Monday January 4th.
Have a Great New Year !