The December U.S. dollar index is solidly higher in early morning dealings. Slow stochastics are bullish for today. The dollar index finds shorter-term technical resistance at the August high of 85.16 and then at 85.50. Shorter-term support is seen at the overnight low of 84.70 and then at this week’s low of 84.54. Wyckoff’s Intra Day Market Rating: 6.0
The December Euro is solidly lower in early trading. The Euro today finds sell stop orders are likely located just below shorter-term technical support at the overnight low of 1.2797 and then just below support at 1.2750. Shorter-term technical resistance for the Euro is seen at 1.2850 and then at the overnight high of 1.2901. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bearish for today. Wyckoff’s Intra Day Market Rating: 4.0
Gold is trading modestly lower in early morning dealings. In December gold, shorter-term technical support is seen at $635.00 and then at $630.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at the overnight high of $644.00 and then more buy stops just above resistance at this week’s high of $648.50. Wyckoff’s Intra-Day Market Rating: 5.0
Crude oil prices are trading slightly higher in early electronic dealings, with prices hitting another fresh 5.5-month low overnight. In October crude, look for buy stops to reside just above resistance at the overnight high of $67.98 and then just above resistance at $68.50. Look for sell stops just below technical support at the overnight low of $67.41, and then more sell stops just below support at $67.00. Wyckoff’s Intra-Day Market Rating: 3.0
Prices were lower in overnight electronic trading. Price action Wednesday only reinforced the bears–especially in corn and beans. Soybeans are still the weak sister of the complex. Seasonal studies favor the corn and bean bears this time of year, as harvest is set to begin for those crops. Next up for traders is the Sept. 12 USDA crop production report. Weekly USDA export sales data is delayed by a day because of the holiday Monday, and will be issued Friday.