Commodities

S&P 500 Futures Update & Trading Outlook: Eyes On 2705

Broad Stock Market Outlook for February 22, 2018 Price resistance stood tall yesterday and rejected the bulls advance. This lead to a very swift move to lower price support from last Thursday.  As I mentioned yesterday, big spikes in either direction for stock market futures will likely be reversed but these…

COT Report: Gold Bugs Have Golden Opportunity

The following chart and data highlight non-commercial commodity futures trading positions as of February 13, 2017. This data was released with the February 16 COT Report (Commitment of Traders). Note that these charts also appeared on my blog. The chart below looks at non-commercial futures trading positions for the Gold Futures. For the…

S&P 500 Futures Trading Outlook: 2700 Level Looms Large

Broad Stock Market Outlook for February 16, 2018 Buyers remain in control after making a higher low on yesterday’s dip. That dip saw S&P 500 futures hit 2688 – quite near our level of 2684 – and reverse higher. We’ll need to see how well we hold 2697 today as support. Watching…

Stock Market Futures Update: Bounce Helps Trapped Buyers

Broad Market Outlook for February 13, 2018 Cross currents are bringing choppy action as price resistance formations form. Traders need to be careful with buying extended moves in this environment as there will be trapped buyers in the mix of contention (looking to sell into each move higher). If you’re long,…

Intermarket Chart Attack: Not Done (Part 2)

This is an Intermarket Analysis chart review that I provided to my fishing club members Wednesday to prepare for the stock market downdraft I expect to continue. These charts are meant to graphically represents relationships (strong and weak) that can foretell how the currents are moving to better identify how stocks/sectors/indices will move! You…

Gold Trading Spotlight: Watch That Up-Trend Line!

Gold is pulling back on Friday as investors in the shiny metals take profits. It’s notable that today’s weakness comes near prior highs and as price exhaustion signals come into play. That said, today’s minor pullback hasn’t done much to damage to the uptrend. And it will take a move…

Stock Market Futures Trading Outlook For January 26

Broad Stock Market Outlook for Jan 26, 2018 The bullish price action continues for stocks as dips find value buyers. But at these levels traders need to remain focused on their price support levels. Holds are our cue to enter long, while failures at support levels will bring countertrend shorts into lower…

Inflation Is Back! Weak Dollar Boosts Commodity Prices

As Q4 earnings continue, one theme that continues is companies mentioning supply constraints and commodity prices rising. Simply put, inflation is back. Commodity index CRB is one way to measure commodity prices. Here’s a brief description from Reuters: On Wednesday, the CRB index broke out of a nearly two year…

Are Commodity Bulls On The Brink Of A Major Breakout?

From 2011 to late 2015, the Thomson Reuters Equal Weighted Commodity Index lost nearly half its value as the Gold, Grains, and Energy industries worked their way through bear markets. Since bottoming in late 2015, commodity prices have made a comeback of sorts, chopping their way higher.  Couple this with…