Its Midnight, Chicago Time. Gold has tested the 1,165 level, and Silver has posted a high at 18.80 In 6 hours or so, we’ll see if the Asian markets were able to light a new fire under these metals, and perhaps send the dollar index to fresh lows.
Crude Oil has a trading high at 78.25 up 78 cents from last Friday’s close.
The SPZ mini’s are trading 4 handles higher at 1094, while DJZ sits just 35 ticks higher at 10338. Surprisingly quiet given the action in the outside markets, but the day is young.
In the grains, December Corn is up 3 1/2 cents at 394 1/2, December Wheat is up 7 cents at 566 3/4, and the big mover was Jan Beans which opened higher, posted an early low at 1046 1/3 and then popped above 1050, 1055 and finally trading to a high so far at 1064 1/2. The next resistance is the 1068 level, and we may see that tonight.
In any event, the beans are the leader. That’s not to say we couldn’t open at 930 AM CST this morning in the Pits, and just scream lower to test the 1045 level again, just for fun.
Good Night and Good Trading
