The stock indexes today are bid, as we had some good econimic news, with jobless claims at 2009 lows, with a rise in durable goods orders.
The dollar had a mini correction from its recent rally and Tuesday’s recent 3 month high.
One point is not much of a “correction” but it has given a bounce to the metals and the crude oil.
Also, for now, the sell pressure has abated in the grain complex as well.
A quick recap of the Stock Indexes follows.
First, the Stock Indexes are giving us their best interpretation of a Christmas rally.
We are sitting at 14 month highs. Given where we were in March 09, this is truly a gift.
S&P Cash posts a new high today so far at 1126.29 up 5 handles on the day.
Dow Jones Cash has a high today at 10,518 not quite up to the recent 14 month high at 10566.
In the futures, SPH has a new high at 112210 so far today, and DJH has a high at 10460. Both of those are new 14 month highs in the futures.
If you look back at my other posts, I had thought we would have this trade exactly. Sideways to higher chopp, no one trading because its the holiday.
Good Trading