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THE REAPER MARKET COMMENTS
Prepared by R. E. McMaster, Jr.
General Market Comments
As I write this on October 9, the December Nikkei Dow has broken 17,500, and plummeted to a new low of 17,300. This means the economic/financial crisis in Japan is deepening, with all the danger's that brings to the global stock markets and financial systems. The currency crisis with the Asian Tigers continues unabated, too. Stateside, the strength in precious metals (gold), the grain and soybean complex (protein gold), and energy (black gold) is beginning to squeeze the paper markets (stocks and bonds). Bonds fell four points in five trading sessions in early October, leading to weakness in the stock market indices October 8 and 9. The DJIA has still not made new highs, so bearish divergence. The U.S. Dollar remains under selling pressure, having now declined to 96 support, with approaching oversold technical and psychological conditions. Volatility is increasing overall, as is general market pressure.
October 9, 1997R. E. McMaster, Jr., Editor
The Reaper
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COMMODITY FUTURES FORECAST WEEKLY REPORT |
DEAN WITTER FUTURES COMMENTARY
THE LATEST COMMITMENT OF TRADERS ANALYSIS FOR CURRENCY CONTRACTS
MYERS ON FUTURES |
NIKKO MARKET COMMENTS
SCHAEFFER'S RESEARCH REVIEW
FED PRICES SLIDE BACK TO $65
MONEY VERSUS DEBT TWO AGGREGATES DIVERGED
STOCKMARKET CYCLES |
WEEKLY OUTLOOK
INTEREST RATE WATCH |
THE ALLENDALE ADVISORY REPORT
NIKKO MARKET COMMENTS |
THE REAPER
Copyright 1997, by Consensus Inc. All American and Pan American rights Reserved. editor@consensus-inc.com
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