Commodities

U.S. Corn Futures Weekly Outlook: Waiting On A Rally

May corn futures moved sharply lower this week, closing down 11 ¼-cents per bushel week-on-week, finishing on Friday (3/24) at $3.56 ¼. Friday’s close was the lowest in May corn futures since December 29, 2016… clearly not a good technical sign for Corn Bulls. this drove the Corn ETF (NYSEARCA:CORN)…

Crude Oil Likely To Rally Before Heading Lower Once More

Where Is Crude Oil Headed? West Texas Crude Oil (WTI) is currently sitting near $47.85/barrel, and continues to waffle around its 200-day average near $48.75.  I took some profits on my “short” crude oil position (via the short crude oil ETF, NYSEARCA:SCO) as I’m still looking for a bounce toward…

S&P 500, Nasdaq, and Crude Oil Futures Outlook For March 24

Stock Market Futures Considerations For March 24, 2017 Range bound behavior on the S&P 500 (INDEXSP:.INX,) is visible as the bottoming event I mentioned yesterday held.  This morning we are seeing a bounce higher.  The short-term bottoming formation will likely be tested and that will be telling for near-term market direction….

S&P 500 Futures Trading Outlook For March 23

S&P 500 Futures Trading Considerations for March 23, 2017 The S&P 500 (INDEXSP:.INX) held support yesterday but a test is likely to occur soon on futures.  2351 to 2355 will be the levels to watch today – buyers will become braver if they can maintain these levels.  Technical price support levels sit…

S&P 500 Futures Trading Outlook For March 22

Stock Market Considerations For March 22, 2017 Momentum selling aggravated a move downward below key weekly support levels. The S&P 500 (INDEXSP:.INX) is trying to bounce… Check the support levels in the commentary below and on the charts. Check out today’s economic calendar with a full rundown of releases. Note that the charts below…

Stock Market Futures Trading Outlook For March 21

Stock Market Considerations For March 21, 2017 Stocks look poised to rise today but traders will need to keep an eye on overhead resistance. Key technical support levels continue to find buyers… bulls want this to hold through the week and see follow through higher.  Check out today’s economic calendar with a full rundown of…

U.S. Equities Short-Term Technical Outlook – March 20

Most of the world stock market indexes are fractionally today, including the S&P 500 (INDEXSP:.INX). German and Italian bond yields are slightly higher, while the US Dollar (CURRENCY:USD) is largely unchanged vs most of the Majors. Equities have failed to show the kind of upside continuation that was thought to…

S&P 500 Futures Trading Outlook For March 20

Stock Market Futures Considerations For March 20, 2017 The S&P 500 (INDEXSP:.INX) is bouncing off support and looks to consolidate at higher prices. As for commodities, crude oil is rangebound while the buy rating on Gold last week from GS holds the precious metals higher but into consolidation. Check out today’s economic…

S&P 500 Futures Trading Outlook For March 17

Stock Market futures Considerations For March 17, 2017 I am looking at 5440.75 on Nasdaq futures being a temporary high for now as we consolidate at higher lows.  The move that spiked gold with the charts may have been a stop running move as volume there was a bit lower,…

Bearish Market Breadth Divergence A Warning For Commodities?

Every now and then you come across a chart that goes against your bias or your previous assumptions, and often times these charts are particularly worth paying attention to. I previously presented a bullish case for commodities, and continue to hold a bullish bias for a couple of reasons, but…