Chartology

Agricultural Commodities Sector Review: Showing Strength

The commodities sector has seen some real interesting price action of late. While Crude Oil and Precious Metals have been under pressure, the Agricultural Commodities have been holding up pretty well. I took a look at the agricultural commodities a couple weeks ago here. At the time, I was looking for some long term lows to come into play and all were subsequently hit. Some of the price levels were taken out

Amazon Stock (AMZN) At Critical Time And Price Juncture

With Cyber Monday coming up, it’s a pretty huge time of the year for Amazon (AMZN – Quote). Interestingly, it’s also an important point in time for Amazon stock price. The coming weeks will likely determine the next big move in Amazon shares. Let’s dig in. Since Amazon’s negative earnings reaction, the stock has been a beast, rising as much as 19% off the $284 low. The $340 area has been

S&P 500 At Resistance: What’s Next For Stocks?

The relentless grind higher continues for the S&P 500 (SPX – Quote), as the broad equity index recorded a record high closing of 2072.83 heading into the holiday. What’s interesting about that closing price is that it aligns perfectly with a key resistance level for the S&P 500: The 1.272 Fibonacci extension at 2073. I posted about this key resistance level last week following the Chinese central bank rate cut.

Chart Focus: Gold Futures Near Weekly Resistance

It’s been a wild ride for Gold prices of late. After a big selloff into early November, Gold futures have rallied back to $1200/oz. But let’s step back for a moment and recap the price action. Just over 3 weeks ago I did an article on Gold Futures. In that article the highlights were: A  current daily target of 1150.60. A weekly target of 1138.10. The significance of the 1179.40 support level. 3 levels

Corn Prices Push Higher: Chart Update

Corn prices are trading higher today and have pushed Corn back up to the recent price highs around $3.85. Prices are a bit higher since my last update on the Grains sector. In that post, I highlighted key resistance levels for the sector and pointed to $3.65/70 as an interesting pivot for Corn. Here’s an excerpt from that post (speaking generally about the Grains): In order for any asset to

Gold Rally Clouds Outlook Into Year End

After hitting 4 year lows, the recent Gold rally has brought the yellow metal back to $1200/oz.  That’s the good news. The bad news is that Gold failed to rally during September (a seasonally strong month) and is now trading in no man’s land. And with a stronger US Dollar and deflation in the air, it’s quite possible that the yellow metal will visit this level sometime over the coming months. But depending on who

Ford Stock (F) Nearing 2 Important Price Levels

Perhaps Ford (F – Quote) investors were biding their time for the launch of the new aluminum body F-150. Or perhaps this is just an oversold bounce? Time will tell. Last month, with the stock trading at $13.78, I wrote a post highlighting how oversold Ford stock price was and why investors should have it on their watch list. Here’s an excerpt from that post: So what makes this an interesting setup? Well, a

Chipotle Stock: Will Elliott Wave Pattern Slow CMG?

The story of Chipotle (CMG – Quote) is amazing… yes, they only make burrito’s but Chipotle stock is at $657/share AND it’s the story of the American Dream. We’ll get to that high share price in a minute, but first let’s celebrate Chipotle’s background (from Wikipedia): “…Founder Steve Ells, attended the Culinary Institute of America in Hyde Park, New York. Afterward, he became a line cook for Jeremiah at Stars in San Francisco.[16] There, Ells observed the popularity of

Why Investors Should Watch This NYSE Divergence

The New York Stock Exchange Index (NYSE) is an extremely important gauge of overall market health. Why? According to the New York Stock Exchange website (www.nyse.com): “..The NYSE Composite Index is designed to measure the performance of all common stocks listed on the NYSE, including ADRs, REITs and tracking stocks. In January 2003 the NYSE reintroduced the NYSE Composite Index under a new methodology that is fully transparent and rule-based.