Equity - While the DOW and S&P 500 continue to hold their price levels quite well, the broader indexes have already entered the corrective phase. It remains only a matter of time before the S&P 500 follows suit. It also looks as if the Chinese Market could be in a bit of trouble short term here, so we will have to wait and see what effect that has on our markets.
10 Year Note - Rates continue to look like they will move lower, with a minimum target of 4.475% on the 10 year note.
Cocoa - Resumed its decline today in full force after its failed rally attempt yesterday. Cocoa continues to have some real potential to collapse in price!!
Corn - Continues to rest before the decline continues. I continue to look at the $4 area basis the July contract to hold any rallies. I am very bearish on the intermediate term.
Sugar #11 - Fairly decent rally in Sugar today and very constructive that the lows of yesterday were not violated. Sugar still has to prove itself, but today was a start. Once Sugar does prove itself it has some great upside potential.
Crude Oil - Continues its retreat with the $60 area the first major area of support. Take a look at the most recent post on Crude to get the entire story. Here is a hint - BUBBLE!!!
USEC Corp. - USU is showing a serious shift into bearish hands. While the action today does offer some potential for a small snap back rally. However, the intermediate term has turned bearish and we need to look for support at 16 1/2, 15 1/8 and 13 3/4.
BDAY, DF and DVSA - Continue their corrective patterns.
Ford - I will be posting an opinion on Ford as the stock today closed in an area that my launch quite an assault upwards.
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