Thursday, December 30, 2010

Signs of a Shift?

I've attached charts. Most are labeled accordingly. This is significant especially since the Dollar was lower. Dollar devaluation usually equals higher commodity prices. Not today! I noticed that in the past, commodity sell-offs sometimes foreshadowed stock market sell-offs. Hmm!

I'm short on time, so this is brief. This may be a top, or just another consolidation on the way to another high. But grains sold off moderately today also. Even livestock saw some selling. Only 1 new high -- copper.

Crude collapsed $2 today.

Sugar hits stops all the way down.

The NYBOT CCI showed a reversal IF prices continue to drop tomorrow. Sometimes, traders will use a pull-back as a buying opportunity rather than a shorting opp.

Steve