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Weekly
update of the RJO MRT Bullish Sentiment Index
and our analysis of the CFTC’s Commitments
of Traders Report. Read More > |
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(BO) CFTC Commitments of Traders Recap
Fundamentals, May 18, 2012; 2:45pm
Attached to this blog is our weekly summary of the CFTC's Commitments of Traders reports. As always, a historical look at this data by commodity is available on this website at: http://www.rjomrt.com/content/cftc.php.
(LC) USDA Cattle on Feed Report Recap
Fundamentals, May 18, 2012; 2:15pm
-May 1 On Feed lower than expected
-April placements sharply lower than expected
-April marketings higher than expected
(W) Wheat Looks to Reverse L-T Slide
Technicals, May 18, 2012; 12:50pm
On the immediate heels of Wed's bullish divergence in short-term momentum that warranted shorter-term traders with tighter risk profiles to take defensive measures to a previously advised bearish policy, yesterday's break above our long-term risk parameter at 6.56 detailed in the hourly chart below negated our long-term bearish view. Today's continued sharp gains not only completes one of this market's greatest
(C) CME Group Extended Trading Hours to Start Sunday
Fundamentals, May 18, 2012; 12:20pm
The CME Group received CFTC approval to begin 22-hour trading days starting Sunday night. Globex will trade continuously, with the exception of being closed for 3 hours daily from 2-5 PM CT. The CME's announcement is included in this post.
(C) Major Bullish Rethink for Corn
Technicals, May 18, 2012; 11:35am
While the Jul corn market has only returned to the middle of the range that has arguably contained it since last Oct, the market has done something this week- today in fact- that it hasn't done in five months: recover above a prior corrective high on a significant enough scale to break the long-term downtrend. Given the extent and impulsiveness of this week's impressive rally and against a sentiment backdrop that has
(LC) Latest Cattle Gains Reinforce Base/Reversal Count, Define New Risk Parameters
Technicals, May 18, 2012; 9:10am
Yesterday's break above 09-May's 116.97 high that capped this market as resistance for a week reaffirms the developing uptrend and defines 11-May's 114.85 low as the latest corrective low and new short-term risk parameter this market is now minimally required to
(SI) S-T Silver Divergence from Range-Base Could Produce Surprising Gains
Technicals, May 18, 2012; 8:55am
Overnight's recovery above Tue's 28.43 minor corrective high and risk parameter stems, if only temporarily, the broader downtrend and defines Wed's 26.73 low as one of developing importance and our new short-term risk parameter. Given the scope of the nearly three month decline, odds are good that this pop in silver prices is merely corrective within the broader decline. But
(C) CBOT Grains Pre-Opening Comments
Fundamentals, May 18, 2012; 8:32am
-No USDA sales announcements
-CME asks for waiver on 10-day comment period for new trading hours proposal
-US PNW grain exports seen expanding sharply
-Argentina cuts soybean/corn estimates
-Cattle on Feed estimates
(TY) New All-Time Low 10-yr Rates Confirm Secular Bull; Trail S&P Stops to 1,340
Technicals, May 18, 2012; 7:25am
Eclipsing 22Sep11's 1.72% low, yesterday's 1.697% close in U.S. 10-yr T-Note rates is the lowest in history and reaffirms the secular downtrend in rates that began 31 years ago from 15.84%. And per the daily log close-only chart below, a recovery above at least
(ES) Overnight Developments - Financials, Metals & Energy
May 18, 2012; 7:05am
The Spanish 10-year yield today fell by 6 bp to 6.22% despite yesterday's downgrade of 16 Spanish banks by Moody's. However, Spanish government credit default swap prices, the price of insuring against a Spanish government default, rose 8.5 bp to a record 560 bp.
(ES) RJOMRT Previews & Perspectives for Friday, May 18
May 17, 2012; 8:28pm
G-8 meeting will focus on “growth”
(ES) News Schedule – Friday 5/18/12
Fundamentals, May 17, 2012; 8:26pm
News Schedule – Friday 5/18/12
(CL) Commodity Calendar - Friday 5/18/2012
Fundamentals, May 17, 2012; 8:25pm
Commodity Calendar - Friday 5/18/2012
(ES) Market Recap - Financials, Metals & Energy
Fundamentals, May 17, 2012; 8:24pm
U.S. initial unemployment claims were unchanged at 370,000 after an upward revision for the previous week to 370,000 to 367,000, which was 5,000 persons stronger than market expectations of 365,000. Continuing claims rose by 36,000 to 3.265 million, which was a higher figure than expectations of 3.225 million.
(CL) Option Analytics and Technical Data
Technicals, May 17, 2012; 6:46pm
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