Our view is that Autodesk, Inc. (ADSK) is a sell. Let's look at recent action. ADSK has traded in the range of $34.40 - $40.26 over the past 30 days, showing support around $34.50 and resistance at $37.50. The stock is trading below both the 50-Day...
Wednesday, June 19--Jim Wyckoff's Morning Web Log * LATEST MARKET DEVELOPMENTS * Asian and European stock markets were mixed again overnight, and in a holding pattern. The market place anxiously awaits the results of the U.S. Federal Reserve’s Open...
September U.S. T-Bonds closed down 1/32 at 139 16/32 yesterday. Prices closed nearer the session high yesterday. Bond market bears have the solid overall near-term technical advantage. Prices are in a six-week-old downtrend on the daily bar chart. The...
So, now we have two days of speculation to get through regarding the Fed and our collective future in the market. Just a little bit more and we can get on with life and maybe, just maybe, the breathless media will give up the speculation and get back to...
Tuesday, June 18--Jim Wyckoff's Morning Web Log * LATEST MARKET DEVELOPMENTS * Asian and European stock markets were mixed in quieter dealings overnight as the market place anxiously awaits the results of the two-day meeting of the U.S. Federal Reserve’s...
GRAINS: December corn futures closed up 4 1/2 cents at $5.37 1/2 Monday. Prices closed nearer the session high and scored a bullish “outside day” up on the daily bar chart after hitting a fresh three-week low early on. It’s very likely going to take a...
"Why worry? If you’ve done the very best you can, worrying won’t make it any better." —Walt Disney.Last week I wrote an article about the importance of entering trades in the direction of a trend and used the dollar/yen (USD/JPY) as a prime example. It’s...
Monday, June 17--Jim Wyckoff's Morning Web Log * LATEST MARKET DEVELOPMENTS * Asian and European stock markets were mostly firmer Monday, but in a subdued atmosphere as the market place awaits the-two day meeting of the U.S. Federal Reserve’s Open Market...
Light volume and high volatility are the hallmarks of the market since late May. I have discussed the reasons for the light volume (buyers waiting to buy on dips, the rest just waiting) and the volatility (the breathless media gone stupid about the...
Friday, June 14--Jim Wyckoff's Morning Web Log * LATEST MARKET DEVELOPMENTS * Gold is seeing some mild safe-haven support on news President Obama has authorized the U.S. to provide arms to Syrian rebels. This will escalate the Syrian situation that has...
CURRENCIES: The September Euro currency closed up 23 points at 1.3359 yesterday. Prices closed nearer the session high yesterday and hit another fresh four-month high. Bulls have the overall near-term technical advantage and have upside momentum on their...
The blood flowed in the streets of Asia last night, but in Japan, complete carnage was the order for the day. The Nikkei has lost just about all of its gains in 20113, but even though this irrational panic has wreaked such devastation, don’t count the...
Thursday, June 13--Jim Wyckoff's Morning Web Log * LATEST MARKET DEVELOPMENTS * Japan’s Nikkei stock index is in bear territory after dropping 6% on Thursday and is now down over 20% from last month’s high. The Japanese yen also hit a two-month high...
September U.S. T-Bonds closed down 21/32 at 138 21/32 yesterday. Prices closed near the session low yesterday and closed at a fresh contract low close. Bond market bears have the solid overall near-term technical advantage. Prices are in a six-week-old...
Wednesday, June 12--Jim Wyckoff's Morning Web Log * LATEST MARKET DEVELOPMENTS * European stock and financial markets were calmer Wednesday, following Tuesday's keen "risk-off" trader mentality. Industrial production in the Euro zone rose by 0.4% in...