US Markets

Yahoo Stock Rallies Off Key Support: Next Move Important

On a day to day basis I truly have NO IDEA what the fundamentals are doing. That’s because my specialty is advanced charting patterns. In short, I focus solely on the price action. One stock that I have been tracking closely (and has continued to follow price expectations) is Yahoo (YHOO). If you’ve been following my writing, then you know I’ve been covering Yahoo stock as a technical pure play. The

Corn Prices Rallying On Dollar Weakness, Wheat Still Sinks

Wednesday was a tough day for the grains, with Corn prices falling over 1 percent and Wheat prices lower by over 4 percent. But this is the tale of two stories. As we have highlighted several times since last fall, Corn has been showing strength, while Wheat and Soybeans have been struggling. And this shows up on the charts. As you can see in the chart below, Corn prices (May ’15)

Why Best Buy Stock (BBY) May Be Running Out Of Steam

Best Buy stock (BBY) has been on an amazing run rallying over 65% since the start of 2014. Is it time to take to a breather? The evidence is pretty convincing that it is. Here’s a list of indicators and occurrences that are concerning me. Use the Best Buy stock chart below for reference. Price is testing resistance from the mid 2000’s high Simultaneously, relative strength is testing declining trend

Sector ETFs In Focus: Healthcare Leading, Utilities Improving

When the markets get choppy or begin to consolidate, it’s a good idea to understand what’s happening under the surface. Market breadth indicators (like %stocks above their 50 day moving average) are one way to assess internals, but another way is by looking at sector rotation. By examining sector ETFs to see which are leading and lagging, we can figure out where the smart money is going. One tool that

March Federal Reserve Meeting: Economy Slowing, Party On

The Big Macro Event that had been hanging over the stock and bond markets the last month was finally resolved last week when the March Federal Reserve FOMC meeting concluded and Fed Chairwoman Janet Yellen announced that they were removing the word ‘patient’. Those expecting higher interest rates were initially cheered by that removal. Their celebration was short-lived, though, because she then went through a litany of economic data that

Silver Prices, Sentiment Trying To Bottom: ETF Levels To Watch

While many point to the Federal Reserve as the tide that raises all ships, the boats carrying commodities have all but sank over the last couple of years. Silver prices have fallen nearly 30% since it’s 2014 high alone and made a series of lower highs and lower lows. It’s hard to argue against the notion that Silver is in a bear market as each rally gets faded. We can also

US Dollar: Indicator Most Overbought In More Than 15 Years

The US Dollar is finally taking a breather. Back on January 27th, I mentioned that the US Dollar Index looked exhausted after a monster run up. Since I wrote that article, the dollar rallied yet another 5% higher but has since backed off. It’s probably a good time to look at the charts again to see how are things shaping up for the US Dollar now? Looking at the chart below, this

Non-Correlated Market Musings: About the Benjamins (Vol. 3)

Monetary Existentialism People who study the theory of money have always struggled with the epistemology. Economist Arnold Kling quotes this from historian Yuval Harari’s Sapiens: A Brief History of Humankind: Money. . .involved the creation of a new inter-subjective reality that exists solely in people’s shared imaginations. But I think Kling found a better definition [Emphasis mine]: I like to say that money is a consensual hallucination… (Will gold bugs

Why Bonds May Be An Important Market ‘Tell’ Next Week

On Wednesday, the Federal Reserve downgraded its economic outlook while at the same time implying that the committee is considering raising rates (they are no longer “patient”, if you will!). So on one hand they acknowledged that the economy isn’t doing so hot, but on the other they said that they are open to raising rates later this year. Yup, some good old fashioned Fed doublespeak. But it worked in

Yahoo Stock (YHOO) Consolidating At Key Support Level

For the better part of 2015, Yahoo, Inc (YHOO) shares have based just above the 200 day moving average (MA) between 42 and 45. Now Yahoo stock is challenging the top of it’s base. So it’s a good time to dig into some charts and highlight some key support and resistance levels for Yahoo stock. Yahoo (YHOO) Daily Stock Chart – 2015 Consolidation? On the most recent low, momentum started to diverge