Market CommentaryMore Market Commentary
It feels as if we’ve been here before. The previous forecast for a high to the right shoulder on 9/19/14 looked good, but it was obviously incorrect. The evidence pointing to that high was like a Ford Edsel compared to the Lamborghini-like evidence pointing to a top now – a Lamborghini powered by a flux capacitor!
The Sept 9 breakdown from a flattened top counts 37 market days to the low on Oct 15. Thirty-seven market days later is Saturday, Nov 22.
Lindsay wrote of a 107-day short-term inte...Read More
March ICE Coffee Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for March coffee futures that price action has been choppy and sideways recently. A move below solid chart support at the November low of 1.8540 would give the bears fresh downside momentum, to suggest a price downtrend in the near term. Such would also become a selling opportunity. The downside price objective would be 1.6500 or below. Technical resistance, for which to place a protective buy st...Read More
U.S. dollar ETF absolute price rose to its highest level in more than 3 years on 11/21/14, thereby reconfirming its preexisting uptrend.
Bond, iShares Barclays 20+ Year U.S. Treasury ETF absolute closing price rose to its highest level in a month on 11/21/14, suggesting renewed upside momentum.
The S&P 500 Composite Index finished at a new all-time closing price high to reconfirm its preexisting uptrend.
NYSE total volume rose 25% to a level 18% above its 200-day SMA. Generally, rising ...
As traders and investors we often judge ourselves by the wins/losses in our buying/selling activities. Yet, the results - while they do matter - are only a small part of the overall success you will achieve. Many are destined to succeed based on their account growth, yet others consider success as it relates to longevity. Regardless, one should not let their net worth equate to their self worth. What do I mean here? Don't let your bottom line, or even your last trade define who you are ...Read More
Boom! Just like that the market leaps forward. At least thus far this morning it has leaped forward. Who knows if it will hold for the day, but, so far, the news of the day has created some excitement.
- China cut interest rates unexpectedly on Friday, stepping up efforts to support the world's second-biggest economy as it heads towards its slowest expansion in nearly a quarter of a century.
The above news tagged right along with commentary about Mr. Draghi considering QE for the European eco...Read More
Featured StoriesMore Featured Stories
The precious metals markets, namely gold and silver, offer traders the allure of large profits. However, high margins and unpredictable volatility are often too much for the average retail trader to handle. Likewise, using unleveraged alternatives, such as the ETF, GLD, forces traders to face other obstacles, including inefficient price movement and hidden costs. There are some alternative lower risk products available to those interested in dipping their toe into metals trading, but there...Read More
The most challenging aspect of the automated-order marketplace is to find an indicator that can reveal where the Dark Pools are accumulating a stock over time, and which stocks they are quietly rotating out of to lower their held shares of a required chartered stock.
Rotation and accumulation are hidden these days on Dark Pool venues that do not show the huge lot orders moving through the automated system. Before the year 2005, giant lot orders were either handled by market makers on the exch...Read More
The holiday season is just around the corner. Traders and economic watchers will be closely watching the Retail Sector given the dismal turnout by consumers in recent years. The XRT peaked in 2013 and since has traded sideways, until today. There are clues that this year may be a different season for both the consumer and retailers alike, and traders will be following the XRT to signal a breakout.
Figure 1, Weekly Chart of the XRT
Lower Prices at the Pump
Beginning mid-summer, consumers...Read More
In a very busy week for IPOs, one deal that stands out from the pack is INC Research , a Contract Research Organization that solely focuses on conducting Phase 1 to Phase 4 clinical trials for biopharmaceutical and medical device companies.
Its 8.1 million share IPO is expected to price on November 6 within a range of $17-$20, and then open for trading the following morning.
There are a few primary aspects to this deal that caught my attention. First, from a fundamental perspective, the comp...Read More
Since the beginning of this year, the Indian rupee has rallied 8% against the euro after hitting a record low of INR/Euro 85. Investors bought rupees amid a renewed confidence in the newly-elected Modi government, while selling euros, as the European Central Bank gets ready to implement its quantitative easing policy.
Our analysis suggests the INR/Euro exchange rate will rally to 70-to-1 over the next two years, from 77-to-1 today. Given this, we recommend a long position in the rupee, funded...Read More