The $Index is slightly higher and key currencies are mixed. The BRIC currencies are all sharply lower against the $ led by the Yuan. USDMXN is 18.7637 +0.0722 (+0.39%), USDCOP is 3,385.80 +0.80 (+0.02%) and USDBRL which closed at 4.2303 is worth 4.2420 on the CME.
Bond futures continue to climb. Equities are lower and metals higher, except the more industrial. Grains are lower as is crude. Sugar is higher and cotton lower. Cocoa is sharply higher.
The market is holding. This area seems to be attracting buyers and forward buying is scattered. It is difficult to accept that we are looking at the 100.00 area again. It has been a virtual straight down move from the highs. Funds will continue selling and will reverse if large traders and other spec propel the market high enough. But even then, longs will be eager to sell any strength. We are entering February and the March roll is starting. Options will expire on February 12th. We will hopefully see some volatility.