Author: Jim Wyckoff

* LATEST MARKET DEVELOPMENTS * In overnight news, the European Union remains worried about deflationary price pressures as Spain has slipped into deflation, reports said. Some German and French inflation figures released Friday...

LIVESTOCK: June live cattle closed up $1.17 at $137.60 Wednesday. Prices closed near mid-range today. The bulls have the overall near-term technical advantage and regained some upside momentum today to begin to render last...

* LATEST MARKET DEVELOPMENTS * The markets are still digesting news late Wednesday that some U.S. and world banks, including Citi, failed a government stress test due to inadequate capital plans. Those banks will have to...

June U.S. T-Bonds closed down 6/32 at 132 29/32nds today. Prices closed nearer the session low today. Bulls have the near-term technical advantage. The next downside price breakout objective for the T-Bond bears is closing...

* LATEST MARKET DEVELOPMENTS * In overnight news, Federal Reserve Bank of St. Louis president James Bullard said the U.S. economy continues to improve and said he sees U.S. unemployment below 6% by the end of this year. Amid a...

METALS: April gold futures closed down $24.30 an ounce at $1,311.80 today. Prices closed nearer the session low and hit a fresh four-week low today. Serious near-term chart damage has been inflicted recently. The bears have now...

* LATEST MARKET DEVELOPMENTS * In overnight news, the German Ifo business confidence index weakened in March, in part due to the crisis in Ukraine. The Ifo index came in at 110.7 in March versus 111.3 in February. Forecasts were...

* LATEST MARKET DEVELOPMENTS * In overnight news, the China HSBC preliminary purchasing managers’ index dropped to an eight-month low of 48.1 in March from 48.5 in February. This continues a trend of weaker-than-expected...

GRAINS: May corn futures closed down 9 cents at $4.79 Thursday. Prices closed nearer the session low on profit taking. Corn prices are still in a nine-week-old uptrend on the daily bar chart. Corn bulls have the overall...