Intermediate Trends

Unless specified otherwise, futures are: July '97 grains, oilseeds, foods, metals, misc; Aug. '97 meats; Sep. '97 energies, currencies, interest rates; indexes. A changed trend rating is indicated by the category number [1-to-5] of last week's rating.

1. Strong Up: Copper, Mexican Peso, all U.S. stock indexes (except NASDAQ 100), (Dow Jones Industrials, S&P 500, Major Market, were [2]).

2. Erratic/Early Up: Oats, cocoa [3], Sep. palladium, Japanese Yen, all interest rates (financials), NASDAQ 100, Nikkei 225.

3. Sideways/Erratic: Wheat (MGE) [5], rice, cotton, feeder cattle [2], orange juice, sugar 11 [2], sugar 14, COB Electricity, Aug. gold, silver, British Pound, German D-mark, Swiss Franc, Canadian Dollar, U.S. Dollar Index.

4. Erratic/Early Down: Corn, soybeans [3], soy-meal [3], soy-oil [3], canola, live cattle, hogs, lumber, crude oil, gasoline, heating oil, natural gas [3], platinum [2], Australian Dollar. 5. Strong Down: Wheat (CBT, KC), pork bellies [3], coffee, Aug. CRB Index [3], July Goldman-Sachs Index [4].

Dew Alert Signals

This week's new trend highs, lows, breakouts, reversals, violations of 50-day moving average, parabolic, etc. (Both up and down Dew signals are indicated by *.)

Strength: Oats, cocoa, sugar 11, platinum, copper, yen, all interest rates (financials), all U.S. stock Indexes (except NASDAQ 100).

Weakness: Soybeans, soy-meal, soy-oil, canola, live cattle, feeder cattle, hogs, bellies, coffee, crude oil, gasoline, heating oil, natural gas, lumber, Canadian Dollar, Australian Dollar.

June 12, 1997
Ernest Margraf
Margraf On The Markets
27253 Timberlane,
Monee, Illinois

Consensus National Futures and Financial On Line Index
Technical Corner Index

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