LIVESTOCK: December live cattle closed up $0.05 at 167.17 today. Prices closed near mid-range today. Bulls have the near-term technical advantage as prices are not far below the recent contract high. Bulls’ next upside price...
Read More* Latest Market Developments * (Follow me on Twitter: @jimwyckoff) It’s likely to be a quieter trading day in the U.S., due to the Veterans Day holiday Tuesday. U.S. stock indexes were firmer in overnight trading and are...
Read MoreMETALS: December gold futures closed down $12.90 an ounce at $1,156.90 today. Prices closed near the session low and gave back about half of Friday’s good gains. Prices Friday hit a 4.5-year low but then reversed course and...
Read More* Latest Market Developments * (Follow me on Twitter: @jimwyckoff) The two key “outside markets” start out the trading week with the U.S. dollar index lower and crude oil prices higher. That will be a bullish underlying factor...
Read More* Latest Market Developments * (Follow me on Twitter: @jimwyckoff) Early Thursday found much of the market place subdued ahead of the much-anticipated monthly meeting of the European Central Bank. Recent dour economic data...
Read More* Latest Market Developments * (Follow me on Twitter: @jimwyckoff) It’s a “risk-on” day in the market place Wednesday, following U.S. mid-term elections that solidly favored the Republican party. The majority of traders and...
Read MoreLIVESTOCK: December live cattle closed down $0.30 at 166.77 today. Prices closed near mid-range today. Bulls still have the solid near-term technical advantage. Prices are in a 10-week-old uptrend on the daily bar chart, but now...
Read MoreMETALS: December gold futures closed down $4.00 an ounce at $1,167.70 today. Prices closed near mid-range and closed at a fresh four-year low close today. The strong U.S. dollar continues to be a major bearish “outside market”...
Read More* Latest Market Developments * One feature in the market place overnight was the slump in crude oil prices to a two-year low of $75.84, basis the December Nymex futures contract. Combined with the appreciating value of the U.S....
Read More* Latest Market Developments * In overnight news, the official China purchasing managers index (PMI) was reported on Saturday and fell to 50.8 in October, from 51.1 in September. The number was slightly below expectations but...
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