Overnight it was reported that German investor sentiment fell.  This is helping the dollar a bit.  Reuters quoted a Fitch report that “the UK is most at risk of losing AAA status among major economies”.  This is pressuring the BP and supporting the Dollar and euro.  Gold is rebounding after an overnight test of the $1100 area.

Dec. S&P:  It’s a sell short day; watch yesterday’s high of 1092.  Overall it’s still a strong market; it should test the 1099 high relatively soon.
Dec. Dow: A sell short day; the old high at 10070 is support.
Dec. T Bonds:  Rallying on a breakout setup day; 119-03 is resistance and a breakout point.
Dec. Yen:  Still in a holding pattern, looking for a breakout move.  Watch Friday’s high at 11162 for an upside breakout point and today’s low of 11088 down.
Dec. Euro FX:  Sell short day.  Resistance is 1.5015, support is 1.4914.
Dec. British Pound:  It’s a sell short day; so far it’s held support at 1.6593.
Dec. Canadian Dollar:  Sell short day.  There’s major Fib resistance at 9508; support is 9439 then 9400.
Dec. Gold:  Holding $1100 on a closing basis keeps the bulls going. 1097 is support.
Dec. Silver:  Is it getting ready for a push lower?  It’s had three doji days; so it could move today.  17.14 is support.
Dec. Copper:  Breakout setup; 295.65 was the first downside breakout point.
March Sugar:  It’s finding some trend line support at 22.20.  Is the bearish momentum waning?
Dec. Coffee: Selling off on a breakout day; there’s trend line support at 137.00.
Dec. Crude Oil:  About unchanged after hitting trend line resistance of 79.90.  There’s support around 78.80.
Dec. Live Cattle:  There’s a breakout setup.  It’s bearish under 85.15; the downside breakout point is yesterday’s low of 84.85
Grains:  This morning’s USDA report was deemed bearish for soybeans and wheat, a bit bullish for corn. The early call is 5-10 lower for beans; 1-3 lower for wheat, and 2-4 higher for corn.
Jan Soybeans:  975 is good resistance; 962-4 is first support, then 959-4.  It had a sell short setup today.
Dec. Wheat:  It’s on a sell short signal.  Resistance is 522-6; first support is 510-2.
Dec. Corn:  Can it rally, or will the other grains drag it down?  It does have a sell short signal today.  Resistance is 391-4, support is 379.

This is a sample of the analysis from my Swing Trader’s Insight advisory service. For information on STI, and to sign up for a free two week trial, visit here.

The information contained here includes information from sources believed to be reliable and accurate, but no guarantee is made as to accuracy, nor do they purport to be complete. Opinions are subject to change without notice. Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

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