A.M. Look 11/20/20

Grains are bid.

Copper is approaching its target and major Fib.
It’s on the sheet.

Platinum/Gold extends.

Four Republican Senators, led by Romney, seem to have had enough of Trump’s antics.
That would bode well for Biden to have a reasonable conversation with the Senate.

You’ve seen the headline that Mnuchin and Powell disagree, breaking the Spoo’s back to Thursday’s low @ 3544.

Expect more headline driven price over the next couple of weeks.

30 Yr. Bonds have rallied to 50 DMA matching the 5-30 @ its 50 DMA.
For me that says bounce in the Indices.

Spoo’s the next 8-10 points higher will be tough.

Op-Ex today = late day volatility in the Indices.

You’ll have an early show driven by London’s Capital flow and another after 2 CDT.

December Oil Expires today. The forward curve is mildly Bullish with storage nearing capacity again.
No clue. Watch the price action.

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