ENERGIES
Crude oil is trading higher overnight as speculators cover shorts and new buyers go long in anticipation of positive news from Obama regarding a solution to the current economic crisis. The possibility of good news is leading traders to believe that an end to the recession may be near and that new demand for energy will drive up demand for crude oil. Trade the long side with caution as the current move is news driven and can turn back down quickly until supported by much stronger fundamental developments. 

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Jay Norris' Forex Trend Maps, a recap of the Forex markets daily, posted at approximately 4:30 P.M. (CDT). Contact Jay at 1-800-971-2154 or at 312-896-3986.

Click on the link below to view today's charts and hear Jay's analysis.

http://brewer.acrobat.com/p89358205/

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Forex trading began the week with the upbeat news that China had approved an economic stimulus package designed to help the Chinese economy and shore up internal infrastructure.  Generally quiet markets like platinum and copper suddenly woke up in anticipation of renewed factory production and construction. Strength in the commodity markets helped rally depressed currencies and the Dollar broke on the news that finally action taken by a central bank was actually going to help the world move out of its deepening recession.  The euphoria lasted most of the night session before U.S. traders deemed China’s move as too little, too late, and the selloff began. 

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