Market Comments

U.S. T-Bill Yield 91-day (2.97 percent)
Needs to digest the 3 percent resistance level, but there is every indication that it could go still higher after that.

PHLX Bank Index (99.48)
I had said we were witnessing a late cycle rally. The rally proceeds but appears to be running out of steam very quickly. It could be over already.

CRB Index (304.33)
Near term correction could be ending. Looking for a rally. Strong longer term uptrend.

Hong Kong Hang Seng Index (1387)
Stuck in a narrow short term trading range for the moment, and longer term trend lacklustre .

U.S. Light Crude Oil (54.50)
Sharp correction short lived and again reaching for important resistance at the $60 area in a powerful uptrend.