We all went to bed last night with the futures fairly flat, but when we woke up this morning, the futures were totally annihilated with the European markets crashing. Italy down over 7% as they saw their 2-year yield rise over...
Read MoreIn the aftermath of today’s inventory report, nearly NYMEX oil has jumped off its morning low at 95.54 to 96.42 so far, within the larger downmove off of yesterday’s high at 97.82. My near-term work argues that the...
Read MoreThe big picture of the iPath Dow Jones UBS Grains ETN (JJG) remains poised for upside continuation off of the October 4 low at 41.95. This is provided the price structure can hurdle and sustain above October resistance at...
Read MoreI have been around for a long time. Too long in this business, but if there’s one thing I have learned more than anything else, is that you don’t want to be on the side of the masses. Sure, once in a long while they...
Read MoreSpot gold continues to claw its way higher despite an otherwise “risk-off” profile for the session in equities (as seen in our hourly chart comparison with the e-mini S&P 500), along with bonds and foreign...
Read MoreHigh put-call readings day after day. Most folks are talking like the end of the world is here, thanks to Europe, and the inevitable fallout from defaults most guaranteed to come. People just hate stocks and the stock market....
Read MoreAlthough USD/Yen has been trading in a relatively narrow range between 78.40 and 77.80 since mid-session Monday after Sunday evening’s BOJ intervention (to sell yen and buy USD), all of the action off of the intervention...
Read MoreAnyone who can grab a microphone in Cannes is jawboning the Solution, the Euro, and the Euro-zone commitment to go forward with Greece … in one big loveliest, which has goosed the Euro/USD up above this morning’s...
Read MoreAnd what it heard it mostly liked. He talked about how our economy is not in all that bad shape. Not in very good shape, to be sure, but not so bad either. He talked at length about the headaches in Europe, and how those...
Read MoreSpot gold prices have recovered from a spike corrective low at 1681 to around 1713. This is right below a key resistance plateau that could be construed as the “neckline” of a week-long minor but meaningful...
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