Yesterday was a day of outside reversal lower closes in so many asset classes

I can’t keep up. Corn,Wheat…Silver ..Gold…Depending which chart ( all sessions or Pit)

Spu to name a few. Then there are the miners and the list goes on.

The Silver and Gold are now trading at or lower on the week.

I am looking to the Brazilian Real (Grains) and the South African Rand (Metals)

for further clues of market direction.

A move through 172.40 Usd/Brl would portend more profit taking in the grains.

The Rand has a very nice monthly double bottom in the dollar/Rand ( high in the Rand)

This can have a significant effect on the strength of the metals complex going forward.

Food for thought!

The big game in town will be the 30 yr. auction today at noon. A failed auction and the stocks will need

a pair of gravity boots as this will likely cause the dollar to continue to strengthen.