Commodities

U.S. Macro Market Outlook: Clouds On The Horizon

On March 10, 2017, 720Global introduced the Trump Range Chart. Developed to see several different markets on one page, this unique chart provides a composite perspective of many instruments at once. Given the large post-election market gyrations across many asset classes, our concern was, and still remains, that those moves…

Are Commodities Undergoing A Positioning Reset?

Commodities are at a crossroads (as an asset class, i.e. looking at the broad investable index, in this case the GSCI Light Energy Index).  Speculative futures positioning has collapsed from the most bullish (net-long) point in more than 10 years, and market breadth measures have rolled over. Could a commodities…

Gold (GLD) Trading Update: Failed Breakout Creates Headwind

The iShares Gold Trust (GLD) breakout failed and its price is back below the flattish 200-day average. This is not all that surprising, though. And this has to do with the failed breakout in Treasuries (NASDAQ:TLT). The two asset classes remain highly correlated. Gold prices via GLD remain above the March…

Crude Oil Trading Update: Bulls Need To Be Patient

West Texas Crude Oil (WTI) is currently marching back towards that $50 level… And with the recent bounce, has seen a failed breakdown. I have seen some positive developments, but Crude will have to over take some overhead supply if bulls want to play ball. As you can see in…

The COT Report: Gold, Crude Oil Rally But Data Mixed

The following is a recap of the recent Commitment of Traders Report (COT) released by the CFTC (Commodity Futures Trading Commission) looking at Commitment of Traders data and commodity futures positions of non-commercial holdings as of May 9. Note that the change in COT report data is week-over-week. Excerpts of this…

S&P 500 Futures Trading Outlook For May 11

Stock Market Futures Considerations For May 11, 2017 Traders will want to be on there toes as the S&P 500 (NYSEARCA:SPY) looks set to test lower price support levels this morning. See below for ideas on where buyers may step in. Check out today’s economic calendar with a full rundown of releases….

COT Report Data (May 5): 3 Charts For Commodities Traders

The following is a recap of the recent Commitment of Traders Report (COT) released by the CFTC (Commodity Futures Trading Commission) looking at Commitment of Traders data and commodity futures positions of non-commercial holdings as of May 2. Note that the change in COT report data is week-over-week. Excerpts of this…

Can The Commodity Index Rally Back From The Depths?

Many seem to be talking about the growth/reflation theme that has taken place post election. Did this theme really start improving post election? The chart below would put a little question into the date. Below looks at the TR Commodity index over the past 40-years. The index hit support at…

U.S. Equities Short-Term Outlook: Still Bullish

S&P 500 Futures: (2-3 Days)  Bullish It’s thought that the late day rally in stocks on Thursday should follow the breakout higher in Treasury yields (INDEXCBOE:TNX) and begin to trend up to new highs in the days ahead. While a neutral trend for the S&P 500 (INDEXSP:.INX) is an accurate depiction…

S&P 500 Futures Trading Outlook For May 4

Stock Market Futures Considerations For May 4, 2017 We are creeping higher on generally positive news floating around the media today, but with NFP (Non-Farm Payrolls) out tomorrow, the S&P 500 (INDEXSP:.INX) is likely to see muted action or action that reverses itself into congestion. Traders did see some knee-jerk…