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San Diego | look at all of last summer and into october and you'll see the 103-up resistance in crude oil.
so today a nice drop away by crude oil and turn around tuesday in the ags.
silver seemed to be respecting crude oil and copper is weak(china turmoil) but recently in the trading day silver & gold bounced.
looks like the silver/gold bounce is about the macro funds piling into commodities(they can be late and wrong at the end of a move), and if correct soybeans&wheat should bounce later in the day.
some commentators are saying a 'wyckoff' top in SPX yest. due to lower nyse volume on yest, move over the 12/31 previous all time high, and closing below. ES did the same thing.
seasonally weak are now wheat, gold, silver and SPX has done poorly lately to close feb.
http://blog.stocktradersalmanac.com/
cheers!
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crude oil resistance begins 103
