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All of the S&P 500 index equity sectors are higher since the last update 4 weeks ago, except for Utilities. All equity sectors are positive for the year, but the return differential from the best to worst performing sector is now even more noticeable as the end of the year approaches.
The relative strength between the corn futures contract and the E-mini S&P 500 futures contract has been in a free fall all year. But is the outperformance of the ES going to continue?
Most commodities have been under pressure this year. TradeStation helps keep the weakness in perspective.
The correlation between the Gold Continuous Futures contract and the S&P 500 E-mini Continuous Futures contract tends to shift over time, and is now clearly down.
The wheat continuous contract initially continued higher after the last update as expected. But it has given back recent gains.
Studying price channels using regression analysis since the March 2009 low reveals the S&P E-Mini Continuous Futures Contract (@ES) retesting its upper boundary again.
With a well-received employment report, the market was off to a strong start Tuesday morning.
Crude oil's recent underperformance of the S&P has more room to run.
Comparing the VIX to its own moving average is a good way to judge extremes.
The last few days have seen a strong move higher for ES.