CURRENCIES: 04/017/09 Higher close yesterday for the Dollar Index while lower for the Canadian Dollar, British Pound, Euro Fx, Swiss Franc, Aussie Dollar and Japanese Yen. The euro and franc still look to continue lower with support for the euro around 13000 and the franc at the 8600 area both basis the June contract. The franc is also still in a down channel at this time. The yen closed lower also still looking very bearish with very little support underneath. The Canadian Dollar spiked higher making another recent high but then settled lower in reversal type action. However, longer termthe8500 area is my next objective. The pound had its highest close since February again but settling lower. This market continues to trend higher but needs to close over 150 basis the June contract. The Aussie Dollar had another large range finally settling lower again but also continues to be in an uptrend overall. However, be careful because it has little support down to 7000 basis the June contract. The dollar settled higher again now looking posed to breakout to the upside out of its present consolidation pattern but has been weakening over the last couple of weeks and should test its lows from mid-march. I have Buy Signals for the Canadian and Aussie dollar and the British Pound. I can be contacted for details.
FINANCIALS: 04/017/09 The eurodollar made its highest high and close again since January but settled lower this time. They're still in a resistance area but still look higher overall while the bonds and notes have been trading sideways.
ENERGIES: 04/18/09. Higher for the crude and heating oil along with the rbob while lower for natural gas. The heat, crude and rbob still look like they're in bull triangles meaning they should continue higher overall but all have been struggling in choppy markets lately. The action in the natural gas still looks very bearish overall.
GRAINS: 04/18/09 Higher for soybeans, soymeal, soyoil, Minneapolis, and Chicago wheat while lower for Kansas City wheat, rough rice and oats. All of the wheat made new recent lows but only KC settled lower. Minneapolis wheat is still in a strong support area whereby longs can take a chance if so inclined because it's the only wheat that still may be okay for a rally since its basically been in sideways action since last October while trying to form a large bottom since the middle of February. Kansas City and Chicago continue to be in a long-term downtrends while consolidating since the middle of February. Corn closed slightly higher settling mid-range. I'm still not far from a sell signal happening and there is quite alot of resistance up to the 450 area which will be difficult for corn to overcome. I'm also looking for a possible break down to the 350's basis the May contract. Rice settled lower but still is in a bull pennant with 140 basis the May contract my next target area. Oats had a huge range breaking sharply basically getting rid of weak longs before rallying to settle down 3 1/2 cents. still this was the 7th trading session in a row with a lower close. The bean complex made new recent highs and closes continuing to trend higher. I maintain Buy Signals for Corn, Soybeans and Soybean Oil. I can be contacted for details.