CURRENCIES: 04/014/09 Higher closes last night for the Canadian Dollar, Japanese Yen, British Pound, Euro Fx, Swiss Franc and Aussie Dollar while lower for the Dollar Index. The euro and franc settled sharply higher but still look to continue lower overall at this time with the franc in a not quite perfect looking down channel. The yen also closed higher but still looking very bearish with very little support underneath. The Canadian Dollar had its highest high and close since January and also ending up over 8200 basis the June contract giving me a second and very large buy signal. Its next stop should be the 8500 area. The pound closed now very close to a buy signal while the Aussie Dollar had its highest high and close since October 3rd. The dollar closed sharply lower still looking lower overall. I have Buy Signals for the Canadian Aussie dollar and a Sell Signal for the US Dollar Index contract.
FINANCIALS: 04/014/09 The eurodollars have been moving higher gradually overall but the bond and note shave settled back near support areas with no real direction at this time. If you had to take a position in the notes it would be from the long side however.
ENERGIES: 04/14/09 Lower settlements for crude and heating oil along with the rbob while higher for natural gas. Although the heat, crude and rbob look like they're in bull triangles I'll recommend standing aside at this time while these energies continue to consolidate while chopping around. Natural gas made a new contract low before closing slightly higher still in a downtrend overall.
GRAINS: 04/14/09 After today's action my Minneapolis wheat buy signal is history although now in a major support area along with the other wheat. Except for Minneapolis which is in a buy area stand aside in the rest of the wheat markets. Corn was unable to hold 390 not giving me a sell signal but now pointing lower with an objective around the 350's basis the May contract. There is quite a lot of resistance up to the 450 area. Rice didn't have much of a follow through from Thursday's limit up close but still looks strong technically with its next target around the 140 area basis the May contract. Oats closed lower again in the May contract still needing to settle over 200 which continues to be a challenge since March 24th. The bean complex closed higher with beans and meal in bull flags and oil making a new recent high and close all in uptrends at this time. I am holding Buy Signals for Corn, Beans and Soybean Oil.
METALS: 04/14/09 Higher to sharply higher settlements for copper, platinum, gold and silver. Copper had its highest high and close since last October once again. Gold rallied over 900 basis the June contract but slipped back to settle at 8958. This market still gives me a strong sell signal and should be sold up to the 950 area. Silver looks better than gold but still should be sold up to 1200 basis the May contract. Platinum exploded to a new contract high and close once again. Buy Signals for Copper and Platinum; Sell signals for Gold and Silver.