Summary
The Dow Future has retreated 13 points to 29353. The US Dollar Index climbed 0.250 points to 92.566. Gold is lower 5.440 dollars to 1861.405. Silver has eased 0.1935 dollars to 23.9950. The Dow Industrials eased 344.93 points, at 29438.42, while the S&P 500 trended lower by 41.74 points, last seen at 3567.79. The Nasdaq Composite eased 97.74 points to 11801.60. Streaming charts of these markets are available at MarketClub
Key Events for Thursday
7:00 AM ET. MBA Weekly Mortgage Applications Survey Composite Idx (previous 833.9) Composite Idx, W/W% (previous -0.5%) Purchase Idx-SA (previous 293.5) Purchase Idx-SA, W/W% (previous -2.6%) Refinance Idx (previous 3973.1) Refinance Idx, W/W% (previous +0.6%) 8:30 AM ET. October New Residential Construction - Housing Starts and Building Permits Total Starts (expected 1.45M; previous 1.415M) Housing Starts, M/M% (expected +2.5%; previous +1.9%) Building Permits (expected 1.56M; previous 1.553M Building Permits, M/M% (expected +0.5%; previous +5.2%) 10:00 AM ET. 3rd Quarter Advance Quarterly Services 10:30 AM ET. EIA Weekly Petroleum Status Report Crude Oil Stocks (Bbl) (previous 488.706M) Crude Oil Stocks, Net Chg (Bbl) (previous +4.277M) Gasoline Stocks (Bbl) (previous 225.356M) Gasoline Stocks, Net Chg (Bbl) (previous -2.309M) Distillate Stocks (Bbl) (previous 149.289M) Distillate Stocks, Net Chg (Bbl) (previous -5.355M) Refinery Usage (previous 74.5%) Total Prod Supplied (Bbl/day) (previous 20.18M) Total Prod Supplied, Net Chg (Bbl/day) (previous +1.818M) 2:00 PM ET. SEC Closed 8:30 AM ET. November Philadelphia Fed Business Outlook Survey Business Activity (expected 22.0; previous 32.3) Prices Paid (previous 28.5) Employment (previous 12.7) New Orders (previous 42.6) Prices Received (previous 14.0) Delivery Times (previous 20.5) Inventories (previous -2.5) Shipments (previous 46.5) 8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims Jobless Claims (expected 710K; previous 709K) Jobless Claims, Net Chg (previous -48K) Continuing Claims (previous 6786000) Continuing Claims, Net Chg (previous -436K) 8:30 AM ET. U.S. Weekly Export Sales Corn (Metric Tons) (previous 978.3K) Soybeans (Metric Tons) (previous 1468.5K) Wheat (Metric Tons) (previous 300.5K) 9:45 AM ET. Bloomberg Consumer Comfort Index 10:00 AM ET. October Existing Home Sales Existing Sales (expected 6.46M; previous 6.54M) Existing Sales, M/M% (expected -1.2%; previous +9.4%) Unsold Homes Month's Supply (previous 2.7) Median Price (USD) (previous 311800) Median Home Price, Y/Y% (previous +14.8%) 10:00 AM ET. October Leading Indicators Leading Index, M/M% (expected +0.7%; previous +0.7%) Leading Index (previous 107.2) Coincident Index, M/M% (previous +0.2%) Lagging Index, M/M% (previous -0.1%) 10:00 AM ET. 3rd Quarter Quarterly Retail E-Commerce Sales 10:30 AM ET. EIA Weekly Natural Gas Storage Report Working Gas In Storage (Cbf) (previous 3927B) Working Gas In Storage, Net Chg (Cbf) (previous +8B) 11:00 AM ET. Nov. Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing Mfg Activity Idx (previous 23) 6-Mo Exp Prod Idx (previous 31) Mfg Composite Idx (previous 13) 6-Mo Exp Composite Idx (previous 31) 4:30 PM ET. Foreign Central Bank Holdings 4:30 PM ET. Money Stock Measures 4:30 PM ET. Federal Discount Window 10:00 AM ET. October Regional & State Employment & Unemployment
CURRENCIES:http://quotes.ino.com/ex changes/?c=currencies" CURRENCIES: The March Euro currency closed up 2 points at 1.1900 today. Prices closed near mid- range today. The bulls have the solid overall near-term technical advantage as prices are not far below the September high. The March Japanese yen closed up 345 points at .96465 today. Prices closed nearer the session high today. Bulls have the solid overall near-term technical advantage. However, this month's spike high is strong overhead resistance for the bulls to overcome. The March Swiss franc closed up 5 points at 1.1027 today. Prices closed near the session high today. The Swissy bulls have the firm overall near-term technical advantage. The March Canadian dollar closed up 26 points at .7673 today. Prices closed near the session high today. The bulls have the firm overall near-term technical advantage. The March British pound closed up 25 points at 1.3297 today. Prices closed nearer the session high today and closed at a 2.5-month high close. The bulls have the firm overall near-term technical advantage. The March U.S. dollar index closed down 0.133 at 92.215 today. Prices closed nearer the session low today. The bears have the firm overall near-term technical advantage.
ENERGIES: December Nymex crude oil closed up $0.63 at $42.06 today. Prices closed nearer the session high today. The bulls have the firm overall near-term technical advantage. Prices are in a fledgling uptrend on the daily bar chart. December heating oil closed up 335 points at $1.2726 today. Prices closed near the session high today. The bulls have the firm overall near-term technical advantage. Prices are in a fledgling uptrend on the daily bar chart. December (RBOB) unleaded gasoline closed up 208 points at $1.1740 today. Prices closed near the session high today. The bulls have the solid overall near-term technical advantage. December natural gas closed up 3.1 cents at $2.723 today. Prices closed near mid-range and saw a mild short-covering bounce after hitting a five-month low Tuesday. The bears have the solid overall near-term technical advantage.
SOFTS: March sugar closed up 9 points at 15.40 cents today. Prices closed near mid-range today. Prices Tuesday hit a 2.5-year high. The sugar bulls have the solid overall near-term technical advantage. Prices are in a 2.5-month- old uptrend on the daily bar chart and have seen a bullish upside breakout from a trading range. March coffee closed up 365 points at 123.15 cents today. Prices closed near the session high today and hit another two-month high. The coffee bulls have the firm overall near-term technical advantage as prices are in a steep uptrend on the daily chart. March cocoa closed up $77 at $2,594 a ton today. Prices closed nearer the session high today and hit a seven-week high. The cocoa bulls have the solid overall near-term technical advantage. A steep three-week-old uptrend is in place on the daily bar chart. March cotton closed up 45 points at 71.75 cents today. Prices closed nearer the session high today. The cotton bulls have the firm overall near-term technical advantage and are keeping alive a 7.5-month-old price uptrend in place on the daily bar chart. January orange juice closed up 100 points at $1.2790 today. Prices closed near the session high and hit a three-month high today. FCOJ bulls have the solid overall near-term technical advantage and have momentum amid an accelerating price uptrend in placed on the daily chart.
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GRAINS: March corn futures closed up 2 3/4 cents at $4.29 1/2 today. Prices closed near mid-range today. The bulls have the solid overall near-term technical advantage. Prices are in a 3.5-month-old price uptrend on the daily bar chart. January soybeans closed up 8 3/4 cents today at $11.78 1/4 a bushel. Prices closed near mid-range today and hit a contract high. Bulls have the solid overall near-term technical advantage. A three-month-old price uptrend is in place on the daily bar chart. March soybean meal closed down $0.60 at $390.80 today. Prices closed nearer the session low today. Prices Tuesday hit a contract high. The meal bulls have the solid overall near-term technical advantage. A three-month-old price uptrend is in place on the daily bar chart. March bean oil closed up 94 points at 37.98 cents today and hit another contract high. Prices closed nearer the session high. The bean oil bulls have the solid overall near-term technical advantage. March SRW wheat closed up 5 1/2 cents at $6.08 1/2 today. Prices closed nearer the session high today. Bulls have the overall near-term technical advantage. March HRW wheat closed up 4 3/4 cents today at $5.66 1/4. Prices closed nearer the session high today. HRW bulls have the firm overall near-term technical advantage. Prices are in a 3.5-month-old uptrend on the daily bar chart.
GENERAL STOCK MARKET COMMENT: The U.S. stock indexes closed firmer today. The marketplace is presently grappling with the specter of a Covid-19 vaccine coming to the public in the coming months that will likely give economies a strong boost, while at the same time realizing it's going to be a grim winter as the pandemic continues to rage in many areas around the globe, including the U.S. and parts of Europe. On this day so far, it appears traders are more focused on the promising vaccine. Still weighing on trader/investor sentiment, however, is the likelihood that no new U.S. government stimulus package is on horizon despite millions of Americans struggling after Covid wiped out their jobs. In overnight news, the Euro zone October consumer price index rose 0.2% from September and was down 0.3%, year-on- year. Those numbers were in line with market expectations and still don't show any signs of problematic inflation any time soon. Once the pandemic is under control and economies start to recover rapidly, that's likely when producer and consumer prices could start to rise at a faster clip. The U.S. dollar index is weaker again today and the greenback bears are having a good week. The other important outside market sees crude oil prices higher and trading around $42.15 a barrel. The yield on the benchmark 10-year U.S. Treasury note futures is currently trading at 0.86%.
December U.S. T-Bonds closed down 11/32 at 172 7/32 today. Prices closed nearer the session low today. The bond market bears have the solid overall near-term technical advantage. Prices are in a choppy, 3.5-month-old downtrend on the daily bar chart. December U.S. T Notes closed down 6.5 (32nds) at 138.03.0 today. Prices closed nearer the session low today. The note market bears have the overall near-term technical advantage. Prices are in a six-week-old downtrend on the daily bar chart.
LIVESTOCK: February live cattle closed down $0.47 at $113.10 today. Prices closed nearer the session low today. Bulls have the solid overall near-term technical advantage as prices have made a strong rebound from the October low. A fledgling price uptrend is in place on the daily bar chart. January feeder cattle closed down $1.97 at $137.75 today. Prices closed nearer the session low today. Bulls still have the overall near-term technical advantage. Prices are still in a four-week-old uptrend on the daily bar chart but now just barely. February lean hogs closed up $0.10 at $65.72 today. Prices closed nearer the session high. Bulls have the slight overall near-term technical advantage but need to show more power soon to halt a downtrend in place on the daily bar chart.
METALS: December gold futures were down $9.80 at $1,875.30 in midday trading today and near mid-range. The gold bulls have the overall near-term technical advantage. December silver futures were down $0.171 at $24.48 at midday today and near mid-range. Silver futures bulls have the overall near-term technical advantage. December N.Y. copper closed up 5 points at 319.85 cents today. Prices closed nearer the session low today. The copper bulls still have the solid overall near-term technical advantage.
| | | Top Stocks | | # | symbol | name | last | net | % | volume | score | triangles | | | 1. | FCEL | FuelCell Energy, Inc | 5.108 | +0.988 | +42.59% | 223,447,351 | +90 |    | Entry Signal | | 2. | TSLA | Tesla, Inc | 486.7050 | +45.0950 | +10.64% | 75,865,877 | +100 | | Entry Signal | | 3. | CCL | Carnival Corp | 17.575 | -0.475 | -3.46% | 69,824,680 | +90 | | Entry Signal | | 4. | NCLH | Norwegian Cruise Line Holdings | 20.4800 | -1.5800 | -9.55% | 68,453,239 | +90 | | Entry Signal | | 5. | AAPL | Apple, Inc | 118.115 | -1.275 | -1.15% | 65,857,051 | +90 | | Entry Signal | | 6. | BA | Boeing | 203.40 | -6.65 | -4.33% | 64,183,697 | +90 | | Entry Signal | | 7. | PCG | PG&E | 12.675 | +0.955 | +9.88% | 50,389,212 | +90 | | Entry Signal | | 8. | BAC | Bank of America Corp | 26.97 | -0.58 | -2.35% | 49,545,223 | +90 | | Entry Signal | | 9. | M | Macy's, Inc | 9.0050 | +0.2050 | +3.11% | 47,281,840 | +90 | | Entry Signal | | 10. | ITUB | Itau Unibanco Banco Holding SA ADS | 5.385 | -0.135 | -3.24% | 45,603,357 | +90 | | Entry Signal | | | | | Top Futures | | # | symbol | name | last | net | % | volume | score | triangles | | | 1. | @SB.K21 | SUGAR #11 WORLD MAY 2021 | 14.50 | +0.12 | +0.83% | 17,437 | +100 | | Entry Signal | | 2. | ZL.F21 | SOYBEAN OIL Jan 2021 | 38.00 | -0.19 | -0.55% | 10,897 | +100 | | Entry Signal | | 3. | QRB.F21 | RBOB GASOLINE JANUARY 2021 | 1.1541 | -0.0085 | -0.73% | 6,666 | +100 | | Entry Signal | | 4. | ZL.H21 | SOYBEAN OIL Mar 2021 | 37.61 | -0.22 | -0.64% | 4,715 | +100 | | Entry Signal | | 5. | HOT.Z20 | NYH ULSD TAS Dec 2020 | 0 | -3 | -100.00% | 4,351 | +90 | | Entry Signal | | 6. | QRB.Z20 | RBOB GASOLINE DECEMBER 2020 | 1.1551 | -0.0078 | -0.67% | 2,699 | +100 | | Entry Signal | | 7. | ZC.Z21 | CORN Dec 2021 | 406.50 | -2.00 | -0.51% | 2,342 | +100 | | Entry Signal | | 8. | @SB.N21 | SUGAR #11 WORLD JULY 2021 | 13.76 | +0.12 | +0.88% | 2,275 | +100 | | Entry Signal | | 9. | @SB.K22 | SUGAR #11 WORLD MAY 2022 | 13.33 | +0.04 | +0.30% | 1,644 | +100 | | Entry Signal | | 10. | ZL.K21 | SOYBEAN OIL May 2021 | 37.29 | -0.19 | -0.56% | 1,619 | +100 | | Entry Signal | |
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