Crude, crop report impact commodity tradingCommodities have continued to decline this morning led by U.S. crude oil, which has broken down below the $60.00/bbl level once again and appears to be trending toward the $50.00-$55.00 range, which would represent a common 50%-62% retracement Retracement A reversal in the movement of a stock's price, countering the prevailing trend.  Notes: An example might be market risk causing a stock's price to pull back. of the previous advance. Grains also have been under pressure today following the release of the USDA USDA, n.pr See United States Department of Agriculture. crop report for July, which showed higher inventory forecasts for soybeans, wheat and corn. Soybeans have been hit the hardest on this news, falling 2.7% to test the $10.00/bushel support level, while corn and wheat have dropped 1.6% and 1.1% respectively to trade near $3.38 and $4.88/bushel respectively. Other commodities have been trading lower, but holding near or above key support levels such as copper trading at $2.20/lb, gold holding above $900/oz and silver finding support near $12.50/oz. Equity markets also continue to slide with a worse than expected U of Michigan consumer confidence reading (64.6 vs. street 70.0) giving investors a reason to go to the sidelines over the weekend and wait to see what happens when earnings reports ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale next week. A number of key support areas may be tested in coming sessions including 8,000-8,100 for the Dow Industrials (US30 CFD CFD - Computational Fluid Dynamics ), 870-875 for the S&P 500 (SPX (Sequenced Packet EXchange) The transport layer protocol in the NetWare operating system. Similar to the TCP layer in TCP/IP, it ensures that the entire message arrives intact. SPX uses NetWare's IPX as its delivery mechanism. 500 CFD), 1,390-1,410 for the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on 100 (NDAQ NDAQ National Database of Accredited Qualifications 100 CFD), 4,000-4,100 for the FTSE FTSE A company that specializes in index calculation. Although not part of a stock exchange, co-owners include the London Stock Exchange and the Financial Times. Notes: The FTSE is similar to Standard & Poor's in the United States. (UK100 CFD), 4,400-4,500 for the DAX (German 30 CFD), 550-575 for the S&P/TMX 60 (Toronto60 CFD) and 9,500-9,600 for the S&P/TMX Composite. About CMC (Common Messaging Calls) A programming interface specified by the XAPIA as the standard messaging API for X.400 and other messaging systems. CMC is intended to provide a common API for applications that want to become mail enabled. 1. Markets CMC Markets is Canada's leading online CFD provider and was the first company in the world to offer online FX trading. With offices in Toronto, CMC Markets has been offering CFDs and FX to Canadian traders since 2005. The company now operates over 15 offices worldwide, and represents clients in over 85 countries. CMC Markets was founded in 1989 by Peter Cruddas and in December 2007,Goldman Sachs acquired a 10% stake. For more information on CMC Markets visit www.cmcmarkets.ca Disclaimer This commentary is based upon technical analysis. Technical analysis is the study of price and volume and the interpretation of trading patterns associated with such studies in an attempt to project future price movements. Technical analysis does not consider any of the fundamentals of an underlying company, and as such is inherently uncertain and should not be the only factor considered by an investor in making an investment decision. CMC Markets Canada Inc. is a member of the Investment Industry Regulatory Organization of Canada and Member CIPF CIPF Canadian Investor Protection Fund CIPF Convención Internacional de Protección Fitosanitaria CIPF Centre d'Immunologie Pierre Fabre CIPF Capital Improvement and Preservation Fund CIPF Centro de Investigaciones y Publicaciones Farmacéuticas . CFDs are distributed in Canada by CMC Markets Canada Inc. dealer and agent of CMC Markets UK plc. Trading CFDs and FX involves a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts. CMC Markets is an execution only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities. CFD and FX trading is available in jurisdictions in which CMC is registered or exempt from registration, and may be available to Accredited Investors only in certain jurisdictions. Note that any references to CFD prices or price changes are sourced from CMC Markets' proprietary trading system Marketmaker™. Copyright 2009, CMC Markets. All rights reserved. 
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