Commodities

Thanksgiving Day Massacre: Crude Oil Plummets

Those expecting an uneventful Thursday as the US celebrates the Thanksgiving holiday have been greeted by just that as S&P 500 equity futures (ES) listlessly trudge sideways. Elsewhere – in an asset class that’s highly uncorrelated, currently – conditions couldn’t be more different.  WTI Crude Oil (CL – Quote) dropped as much as -8.06% session-over-session early today, and is currently down -6.28% to just above $69/bbl, representing the largest single

Gold And Oil: Have The Charts Been Helpful?

In a 2013 See It Market article, we covered how trends can assist in investing and trading. Given their recent weakness relative to the S&P 500, it is fair to ask: Have trends been helpful in terms of avoiding the long periods of underperformance in gold and oil?   A Picture Is Worth A Thousand Words The weekly chart below shows the performance of the SPDR Gold Trust ETF (GLD –

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

Are Commodities Forming Huge Head and Shoulders Pattern?

Could this be the largest head & shoulder top in the past 50 years? click to enlarge   To help myself reduce my own bias towards investments, I hide the names of charts and just look at patterns that I find interesting. I shared the above chart last week at the annual Stocktoberfest meeting and asked the audience, ”What would you do with this pattern?” What do I see happening here?

Intermarket Analysis: Why Equities May Pause In November

The sharp V-shaped bottom rally for the S&P 500 (SPX) has given bulls a renewed sense of optimism. And several stocks have not only regained their losses but have also begun new trends. As well, the bond market appears to have put in a top of sorts in late October. So all is good, right?  While it is counterproductive to argue with the market, it is always good to consider intermarket analysis and

The Best Of ‘See It Market’ – October 2014

Yup, October was a wild month. And we were all over the action… even before it started. Fellow SIM contributor Ryan Detrick’s September 29th post on “Why October May Be A Roller Coaster Ride” gave readers a glimpse of what was to come. And it was all that and more. From the mid-month lows to the end of month highs, the market jumped over 10 percent (in two weeks). If you haven’t

Market Masters: Using COT Data To Identify Turning Points In The Market

While I’ve been writing for See It Market for several months, it’s a great honor to write a “Market Masters” article. With my focus being towards technical analysis I am constantly watching the latest price action and in search of the best risk/reward relationships. These can be derived from momentum or breadth setups, which I’ve written about quite a bit, extremes in market sentiment, as well as within the actual positions

Intermarket Analysis Of The Correction: Bonds, Oil, Autos

The market accelerated to the downside today, and you’ve probably heard the adage by now, “Don’t try to catch a falling knife.” There are various technical analysis and fundamental tools that offer us approximations so we can take a measured approach to getting back involved. And I find the best way to do that is to combine them to look within the market using intermarket analysis. I think it allows

Is Gold Setting Up For A Santa Claus Low?

Gold is getting tons of press recently and I’ve been blogging about the metals for a while. This post is going to go into some of the underlying math currently driving the PRICE action and how a case can be made that the $1050 to $1090 level is going to be very important for Gold prices. And, even more interesting, this level could come into play around around the Christmas