This morning, the S&P 500 Index e-mini futures (ES-M2) are plunging lower by 11.50 points to 1322.00 per contract. The decline in the futures market comes as Spanish and Italian bond yields have surged higher. Yields on the Italian 10-year note are now above the dreaded 6.00 percent level. This is a level that has caused panic in the markets. The problems in Europe continue to grow by the minute. Traders and investors that want to cut through the European news can simply follow the U.S. Dollar Index. As long as the U.S. Dollar Index remains strong and trades higher it is a sign that the major stock indexes will continue to fall and deflate lower. It seems that the only way the markets around the world can trade higher and inflate is if the U.S. Dollar Index declines. Every trade is a trade on the U.S. Dollar Index.
Oil, gasoline, copper, gold, and most other commodities will usually decline and trade lower when the U.S. dollar is strong. Traders should watch for volatility in equities such as United States Oil Fund LP (ETF) (NYSEARCA:USO), United States Gasoline Fund, LP (NYSEARCA:UGA), Sprott Physical Gold Trust (NYSEARCA:PHYS), ProShares Ultra Silver (ETF) (NYSEARCA:AGQ), and iPath Dow Jones UBS Copper Total Return Sub-Index ETN (NYSEARCA:JJC).
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Olive Oil Markets Sliding Lower Again
Published 05/31/2012, 02:22 AM
Updated 07/09/2023, 06:31 AM
Olive Oil Markets Sliding Lower Again
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