Natural gas was down another 2.1 cents to $4.204 after trading as low as $4.129, while our preferred trade, the equities as proxied by the Revere index ETF managed a gain of .31% to $21.70. Considering the futures have been pretty much down since mid-June when they touched $4.90 a couple days, the FCG is 'only' down 5.9% from its 3-year high established on June 23.
That action in the futures sure looks like a reversal, tomorrow should tell the tale.
From Accuweather:
Days after Typhoon Neoguri takes a curved path over Japan and into the northern Pacific, much cooler air will drive southeastward across the Midwest and into the Northeast.
The cause and effect of a typhoon curving away from Asia is well known among the weather community.
"A southward dip in the jet stream over Asia is what is turning the typhoon out to the east," according to AccuWeather Senior Meteorologist Joe Lundberg.
The jet stream is a fast river of air, high in the atmosphere, that guides storms along and allows fair weather systems to build over a particular region.Here's the satellite view via Wunderblog:
"If you think of the jet stream as a really long jump rope and start to shake one end up and down, eventually those waves will show up at the other end of the rope," Lundberg said....MORE
