Short-Term Trading Update – as of December 04, 2009
The market has been looking for a reason to correct but last week held up relatively well. We’ll see what this week has in store. I wouldn’t be surprised to see more weakness in equities.
S & P 500 (ES) – Weekly Uptrend is hanging in there but daily has turned down. Currently on buy signal from 11/09 at 1091.75.
Sugar (SB) – Trend is split between weekly and daily. Another solid down day may move me into a trade.
Silver (SI) – Trend in silver is still up but barely. It will take a bit of a correction to shift into shorting the market.
Gold (GC) – Short term Trend is still up but but could change with a little more correction.
Soybeans (S) – Soybeans closed out after 12 days at profit of 14 points per contract.
Cocoa (CC) – Uptrend still in place but is overbought for now.
Dow Jones (DJ) – Trend is split but trade is in place from 11/09 at 10,192.
Soybean Oil (BO) – Trend is also split between weekly and daily. Long trade is in place from 11/11 at 37.89
Coffee (KC) – Trend is now up but no trade yet.
