CURRENCIES

The September U.S. dollar index is lower in early morning dealings. Slow stochastics are bearish for today. The dollar index finds shorter-term technical resistance at the overnight high of 84.79 and then at 85.00. Shorter-term support is seen at the overnight low of 84.48 and then at the August low of 84.17. Wyckoff’s Intra Day Market Rating: 3.5

The September Euro is higher in early trading. The Euro today finds sell stop orders are likely located just below shorter-term technical support at the overnight low of 1.2862 and then more sell stops just below support at 1.2800. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.2911 and then at the August high of 1.2945. Buy stops likely reside just above those levels, with heavier stops above the August high. Slow stochastics for the Euro are bullish for today. Wyckoff’s Intra Day Market Rating: 7.0

METALS

Gold is trading firmer in early morning dealings. In December gold, shorter-term technical support is seen at the overnight low of $637.30 and then $635.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at Wednesday’s high of $643.00 and then more buy stops just above resistance at $645.00. Wyckoff’s Intra-Day Market Rating: 5.0

ENERGIES

Crude oil prices are trading sharply lower in early electronic dealings. In September crude, look for buy stops to reside just above resistance at $71.00 and then just above resistance at today’s high of $71.75. Look for sell stops just below technical support today’s low of $70.44, and then heavier sell stops just below major support at $70.00. Wyckoff’s Intra-Day Market Rating: 4.0

GRAINS

Prices were mostly higher in overnight electronic trading, on a corrective short-covering bounce following recent solid losses. But the bears still have technical momentum in all the grains today. Wednesday’s low-range closes after a higher start reaffirm the bears’ strength. Look for choppy and lackluster trading the rest of the week. Corn Belt weather is deemed near-term bearish. Weather is becoming less of a focus for traders as the crops move toward maturity. Focus now becomes less on supply and more on demand for the grains.