Equity - While no evening star pattern was made today, the short term model did go negative. Expect an intermediate term correction to begin.
10 Year Note - Rates continue to move sharply lower and very close to an intermediate trend change which should bring rates on the 10 Year Note down below the most recent low at 4.475%.
Cocoa - Strong downside reversal today as cocoa attempted to rally to new highs. Some follow through on Thursday would be constructive for the bearish argument, but the price action seems very much like a commodity that wants to move lower.
Corn - No change in analysis. Please refer to yesterdays post on Corn.
Sugar #11 - Sugar, while it has some excellent upside prospects, continues to work its way lower. It is exactly this type of market action that makes confirmation of a possible trend change imperative to trading profitably. While the decline today was sharp, it does not take away from Sugar remaining on the watch list and quite the contrary, the market needs to be observed even closer for a potential washout bottom!
USEC Corp. - (USU) Confirmation of an intermediate term trend change from up to down was signaled today. Support levels are as follows - 16 1/2, 15 1/8 and 13 3/4. I anticipate this pullback to be nothing more than a normal correction in its ongoing bull market.
BDAY, DF and DVSA - All continue with their corrective patterns. You can review their support levels on earlier posts.
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