Global Markets

Economic Data Watch: June Federal Reserve Meeting Looms

April was an uneventful month, as oil and the U.S. stock market drifted a bit higher and investors began to speculate about the June Federal Reserve meeting. As well, official data from China indicated that the capital flight has abated somewhat, which lent a bit of support to global stock market…

Baidu (BIDU): Chinese Investigation Dragging Stock Lower

Baidu (BIDU), the largest internet search engine company in China, has come under fire as of late after one of its users, a 21 year old university student Wei Zexi died after trying an experimental cancer treatment he found advertised on the website. Once the treatment failed he took to social media…

S&P 500 Futures Rise As Stocks Catch A Bid

Stock Market Outlook for May 2, 2016 – A look at the monthly chart for S&P 500 futures (ES_F) still shows bullish weight with mild negative divergence. The weekly chart will confirm this, so long as we hold, and/or recover the 2045 region as support. After bouncing off support last…

U.S. Corn & Soybeans Weekly Review: The Bullish View

This week I felt it necessary to reexamine the Bullish arguments for both corn and soybeans with the market transitioning into the critical month of May for U.S. spring planting progress. Over the last 4-weeks both corn and soybean futures have been the beneficiaries of a largely unexpected yet incredibly…

S&P 500 Futures Decline On Bank Of Japan Surprise

Stock market outlook for April 28 – The Bank of Japan surprised the markets dramatically by not making further moves to increase stimulus. The surprise sent the S&P 500 futures (ES_F) right down into the bottom of the range that should bring buyers to make a play. This lower support…

S&P 500 Futures Move Lower; Test Buyers Resolve

April 26 stock market futures outlook – A weekly close above 2082 on S&P 500 futures (ES_F) was a fair signal that buyers are still intent on holding paths north, but undercurrents in this market remain mixed. If prevailing strength were wholly positive, we would see more individual charts catch…

Currency Spotlight: Did The USDJPY Bottom?

After months of trending higher, the Japanese Yen may be stalling. I wrote about this last month, specifically as it related to a potential USDJPY bottom. Today, I’d like to revise the USDJPY chart and provide an update. After watching the USDJPY rally off the 107 and change level, the…

Broad Market Leading Stocks Higher In April

The equity markets rallied to the top of the trading range last week carrying the Dow Jones Industrials and S&P 500 to a stones-throw from all-time record highs. Stocks were supported by better-than-expected first-quarter earnings, improved economic data from China and continued technical improvement in the broad market. Although the…

Is The Soybean Rally For Real? A Comprehensive Review

The two questions I’ve been asked most often lately are, “What’s behind the soybean rally?  And is it sustainable?” The charts show that since November soybean futures established a key double-bottom on March 2nd at $8.68 per bushel, soybean futures have done nothing but trend higher. The soybean rally has…

S&P 500 Futures Drift Higher But Indecision Weighs

S&P 500 futures have been inching lower while bouncing within congestion territory between 2033.5 and 2047.75. The tests of these two levels will be important to gauge further extensions across stock market futures (on either the long or short side). So far, S&P 500 futures have recovered 2033 and slogged around…