CURRENCIES: 11/18/09 Higher closes Tuesday for the US Dollar index while, conversely, lower for the British pound, Canadian and Aussie dollar, Euro fx, Swiss franc and Japanese yen. The euro and franc continue to be in long-term up-trends with the latter looking stronger than the former but both in choppy action at this time. The yen made a new recent higher before selling off to close lower in reversal type action but still should test its higher sooner than later. The Canadian dollar also settled lower still in an uptrend overall with support under 9400 basis the December contract but needing to close over 9600 to help verify a continuation of its move higher. The pound and Aussie dollar also settled lower but are still in strong uptrends. The dollar finally had a strong close but continues to look very bearish overall.
FINANCIALS: 11/18/09 Higher settlement yesterday for the notes and bonds while lower for the eurodollars.The notes and bonds continue moving higher with the former making its highest close since April. The eurodollar equaled its contract high before settling slightly lower. I hold Buy Signals for Notes and Bonds.
GRAINS: 11/18/09 Higher closes for soybeans,soymeal, soyoil, Minneapolis, Kansas city and Chicago wheat while lower for rough rice, corn and oats. It looks like most of today's action was from spread trading with all of the wheat (buy signals on Monday) making new recent highs and closes while corn settled unchanged to lower. Rice closed lower now in its last resistance with its KEY REVERSAL from last Wednesday still in tact but being threatened by a long-term up-trend. Oats also settled lower but continuing its overall obvious up-trend. The bean complex also closed higher again off spread trading this time with beans finally giving me a BUY SIGNAL and meal still close. I hold Buy Signals on all the Wheat, Corn and Oats.