Gold posted a high at 1217.30 and Silver left a high print at 19355. Other than that, the markets were a sideways chop last night. Jan Beans traded through a ten cent range between 1053 and 1063. Wheat and Corn had smaller ranges but basically, uneventful.
Continue to watch the US Dollar index and the Crude for some hint today of where we may be trading. Crude is currently down slightly trading at 7786. For now it looks like the 73 to 78 dollar range is our trade parameter for Crude. A break out above or below that range would be worth watching.
Today we have the US Beige Book at 1PM CST. It may provide some trading movement.
Tomorrow, Thursday, we have initial claims, productivity numbers , chain store retail sales.
Most people are waiting for Friday’s unemployment numbers. If expectations are not met, we could have another large move in the indexes.
Today is shaping up to be a chop fest, range bound trading extravaganza. We are in December, the holiday markets,and the trade probably couldn’t get any worse than it does at this time of year.
Good Trading
