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Energy Market Analysis
May crude oil closed lower due to profit taking on Thursday as it consolidates some of Wednesday’s rally. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If May renews...
Jim Wyckoffs Morning Blog--Friday
Friday, March 19--Jim Wyckoff's Morning Web Log Note: I am out of the office today, and my friend and fellow Trader/analyst Ken Seehusen produced my morning report. Ken’s style is different than mine, but I think you’ll enjoy his work, too. Jim The STOCK INDEXES & MARKETS The June NASDAQ 100 was...
Metals Commentary
April gold futures closed up $1.70 at $1,124.20 Wednesday. Prices closed nearer the session low. A weaker U.S. dollar index and firmer crude oil prices supported buying interest in gold Wednesday. The gold market bulls this week have kept a six-week-old uptrend from the early-February lows in...
Jim Wyckoff's Morning Blog--Thursday
Thursday, March 18--Jim Wyckoff's Morning Web Log OVERNIGHT/EARLY MORNING DEVELOPMENTS The market features in overnight/early morning trading today are a firmer U.S. dollar index and weaker crude oil prices. JIM'S MARKET THOUGHT OF THE DAY * U.S. Treasuries (T-Bonds and T-Notes) bulls this week...
Softs Market Commentary
May sugar closed down 109 points at 18.30 cents yesterday. Prices again closed near the session low and hit a fresh eight-month low. The key "outside markets" were in a bullish posture for sugar Tuesday, as crude oil prices were sharply higher, U.S. stock indexes higher and the U.S. dollar index...
Jim Wyckoff's Morning Blog--Wednesday
Wednesday, March 17--Jim Wyckoff's Morning Web Log OVERNIGHT/EARLY MORNING DEVELOPMENTS The market features in overnight/early morning trading today are a weaker U.S. dollar index and higher crude oil prices. JIM'S MARKET THOUGHT OF THE DAY * The crude oil market bulls are regaining some fresh
Livestock Futures Commentary
April live cattle closed up $0.60 at $95.70 yesterday. Prices closed near the session high yesterday and set a fresh contract high. The cattle market bulls have the solid overall near-term technical advantage. While there are no significant technical clues that a market top is close at hand, the...
Jim Wyckoff's Morning Blog--Tuesday
Tuesday, March 16--Jim Wyckoff's Morning Web Log OVERNIGHT/EARLY MORNING DEVELOPMENTS The market features in overnight/early morning trading today are a lower U.S. dollar index and higher gold prices. JIM'S MARKET THOUGHT OF THE DAY * The gold market bulls are regaining some fresh upside...
Grain Market Analysis
May soybeans on Friday closed lower, near the session low, hit a fresh five-week low and closed at a bearish weekly low close. Soybean bears have the near-term technical advantage and gained fresh downside technical momentum late last week. The next downside price objective for the bears is...
Jim Wyckoff's Morning Blog--Monday
Monday, March 15--Jim Wyckoff's Morning Web Log OVERNIGHT/EARLY MORNING DEVELOPMENTS The market features in overnight/early morning trading today are lower U.S. stock index futures prices and lower crude oil prices. JIM'S MARKET THOUGHT OF THE DAY * April crude oil posted a bearish "outside day"...
Energies Market Commentary
April crude oil closed up $0.11 at $82.20 a barrel yesterday. Prices closed near the session high yesterday. Crude oil bulls have the solid overall near-term technical advantage. However, recent history has shown that as prices approach $85.00 a barrel, rallies do peter out. The next upside...
Jim Wyckoff's Morning Blog--Friday
Friday, March 12--Jim Wyckoff's Morning Web Log OVERNIGHT/EARLY MORNING DEVELOPMENTS The market features in overnight/early morning trading today are a lower U.S. dollar index and higher crude oil prices. JIM'S MARKET THOUGHT OF THE DAY * The grain futures markets have been under selling
Softs Market Commentary
May sugar closed down 63 points at 19.69 cents yesterday. Prices closed near mid-range yesterday and hit another fresh 7.5-month low. Serious chart damage has occurred in sugar recently, including more yesterday. Prices are in a steep six-week-old downtrend on the daily bar chart. There are no...
Jim Wyckoff's Morning Blog--Thursday
Thursday, March 11--Jim Wyckoff's Morning Web Log OVERNIGHT/EARLY MORNING DEVELOPMENTS The market feature in quieter overnight/early morning trading today is weaker U.S. stock index futures prices. JIM'S MARKET THOUGHT OF THE DAY * The U.S. dollar index continues to trade in a sideways and...
Grain Market Analysis
May corn futures closed down 6 1/4 cents at $3.68 3/4 yesterday. Prices closed near the session low yesterday and hit a fresh three-week low. The key outside markets were in a bearish posture for corn yesterday, as the U.S. dollar index was firmer, while crude oil and gold prices were weaker....
