Energy had good days, and look like they want to go up even though still in a variety of bear market.
The bond market did not care for the mediocre cover ratio of today's 30 year auction, even though yields were down 44+ basis points. Technically, the 10yr looks like it will go to 130 and the 30 yr to 124 '20.
The emini hasn't really turned up yet. Nevertheless, it seems like it wants to make a run at 1212 or maybe 1244 (or maybe turn into a bull market?)
In Forex trading, the Yen was sideways, ChF down, $A, $C, £, € were all up, but no trends, not even prospectively, are evident.
Grain reports were out today. Some of the follow up hoopla called for a $2 to $3 increase in the price of beans. Maybe so, but yesterday I was talking about beans possibly rising because the Chinese are buying -- or have already bought, given they usually do their buying before press releases announce it. Beans were up, but not any sort of break-away move. Other grains were quite ho-hum about the numbers. While I'm clearly bullish on corn, and don't see how wheat and beans can fail to follow, at this moment none of them are in what I would describe as a bull market.
The bond market did not care for the mediocre cover ratio of today's 30 year auction, even though yields were down 44+ basis points. Technically, the 10yr looks like it will go to 130 and the 30 yr to 124 '20.
The emini hasn't really turned up yet. Nevertheless, it seems like it wants to make a run at 1212 or maybe 1244 (or maybe turn into a bull market?)
In Forex trading, the Yen was sideways, ChF down, $A, $C, £, € were all up, but no trends, not even prospectively, are evident.
Grain reports were out today. Some of the follow up hoopla called for a $2 to $3 increase in the price of beans. Maybe so, but yesterday I was talking about beans possibly rising because the Chinese are buying -- or have already bought, given they usually do their buying before press releases announce it. Beans were up, but not any sort of break-away move. Other grains were quite ho-hum about the numbers. While I'm clearly bullish on corn, and don't see how wheat and beans can fail to follow, at this moment none of them are in what I would describe as a bull market.
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