Markets Fall Back

Coffee is lower again. I read Friday morning (not vetted, but someone I trust) that if near term Coffee futures close lower (14 straight days) it will be the longest stretch in 41 years. (Nixon Administration).

Natural Gas is retesting December contract lows. I believe the risk reward is skewed toward being long Natty in this area.

Crude oil broke recent lows, trading at lowest levels since July 1st. Heating Oil and Gasoline are both retesting support.

Gold and Silver failed to breakout of coiling range as the compression continues.


In Equity land, the RUT continues to lag. That's not bullish:

The Dollar Index made a sharp move higher in the wake of the Fed/Chicago PMI/etc. In my estimation, 79 is strong support. Conversely, the euro trash (pound sterling, euro, Swiss) have sold off HARD this week.

At 10 am Chicago time, it's been a difficult week for most primary commodity market bulls:

But the month of October paints a different picture - looks like a more normal distribution. Lumber, Oats, Platinum and Stocks shine in October, but Cotton, Coffee, Crude and Corn struggle. Had I known to be short the Commodities that start with "C" 5 weeks ago..... nobody said this was easy. It's not.

Speaking of Normal Distribution.....a Little Post Halloween humor:

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