Day Summary

The resistance held pretty well and Friday was a big downmove by all accounts, volume was heavy and this could be start of a new leg down and retest may be in the offing. I think there is enough liquidy in the world and since its not going in equities , its driving other assets classes especially commodities in parabolic moves. Wheat, Corn, Beans, Sugar, Cocoa, Cotton, Coffee,
Gold, Silver, Natural Gas, Oil everything is on fire right now. I think once equity market stabilizes these commodidties will pull back till then I think they will keep on going higher.
Some say this move in commodities is because of USDollar but I dont think so, USDollar literally did nothing From November untill last week but none of these comoodities stopped going higher, I think the global commodity demand supply and liquidy is driving this commodity surge.