Gold futures had a big breakout day selloff Wednesday, which pushed it through the 69/23 low at 913.20. It recovered some ground yesterday (breakout moves often reverse direction the following day), then it consolidated...
Read MoreThe British Pound futures have been in a downtrend for the past two weeks.It had a good rally yesterday after the Bank of England’s meeting.The rally was a good opportunity for a short sale; let’s look closer. On the...
Read MoreThe “green shoots” trades continue to get mowed down.The US trade deficit for May fell 9.8%, we also see the U. of M. Consumer sentiment report at 8:55 Central. Stocks are lower; Chevron had a downbeat profit...
Read MoreWe had a successful breakout trade in cotton today; let’s take a look at it. I identified today as a breakout day in December Cotton futures.Yesterday as an inside day, and Wednesday’s range was 60% of...
Read MoreAll the “green shoots’ trades are doing well this morning:equities and commodities are higher, treasuries and the Dollar are lower.The big new appears to be Alcoa’s earnings.They showed a loss, but it was...
Read MoreI’ve been looking for a bottom in the Canadian Dollar recently.Following the June selloff, it has traded kind of sideways for the past weeks, gravitating around the 8600 level (the green line on the chart).MACD appears to...
Read MoreThere’s more commodity liquidation going on today; gold and silver are sharply lower, and crude oil broke a significant support point.Grains managed to stay flat overnight.Stocks haven’t found any strength after...
Read MoreEuropean stocks and currencies rose on a big jump in German factory orders.However, British industrial output fell, which is pressuring the FTSE and the Pound.Laura Tyson, an economic advisor to President Obama, said that the US...
Read MoreTraders came into this morning in a selling mood-the only markets that are higher are the US Dollar and the Yen.Some of it is follow through selling from last week’s employment report, some of it is nervousness ahead of...
Read MoreAs I wrote about the other day (read here), crude oil futures formed a triangle on the price chart; I expected it to follow last year’s pattern and peak around the beginning of July, and then turn lower.I was nervous early...
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