Market CommentaryMore Market Commentary
I just have to say, getting ignored affects my sense of worth, my confidence, and it marginalizes me in my profession. Why is the market ignoring my advice? Why is it gobbling up points as if there were no tomorrow? Doesn’t it appreciate the work I do to come up with the advice?
So, here we are at new record highs intraday for the S&P 500. It surely did not take long to get back here, once the market decided it wanted to move up.
- U.S. stocks jumped, with benchmark indexes rising to all-time h...
March ICE Cocoa Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for March cocoa futures that prices are in a downtrend and have just hit a six-month low. The bears are in firm technical control. A move in prices below solid technical support at $2,889 would become a selling opportunity. The downside price objective would be $2,650 or below. Technical resistance, for which to place a protective buy stop just above, is located at $3,000.
Gold Mining Stocks ETF/Gold Shares ETF Relative Strength Ratio fell below its lows of the previous 8 years on 10/30/14, thereby reconfirming its preexisting downtrend. Absolute price of GDX fell below its lows of the previous 5 years on 10/30/14.
Silver, iShares Silver Trust ETF absolute price fell below its lows of the previous 4 years on 10/30/14, thereby reconfirming its preexisting downtrend.
Silver/Gold ETFs Ratio fell below its lows of the previous 5 years on 10/30/14, thereby reco...
“Resistance is futile.” Don’t go there! I am not a Trekkie, but I have seen all the TV episodes and all the movies , so I am familiar with the Borg, the space folk who take over the collective minds of other civilizations.
Watching the market this morning, the Borg and their motto popped into my head . Anyway, it struck me that the market can go here and go there on this and that from the breathless media, but, in the end, resistance is futile – economic and market fundamentals will take over...Read More
March Australian Dollar Futures a Buying Opportunity on More Price Strength
See on the daily bar chart for the March Aussie dollar futures that prices are in a fledgling uptrend, have just hit a five-week high and have seen a bullish upside “breakout” from a sideways trading range at lower price levels. The bulls have gained good upside technical momentum recently. A move above chart resistance at this week’s high of .8815 would become a buying opportunity. The upside price objective would b...Read More
Featured StoriesMore Featured Stories
Many new traders entering the trading game can’t get the right answers because they aren’t asking themselves the right questions. Much of the success traders experience is attributable to how well they know themselves. This insight for you will come from the quality of the questions you ask, and how honest you are willing to be with yourself. Only after you honestly answer the following 10 questions, will you have enough self-awareness to be successful.
- What markets will you trade? Futures,...
Procrastination, and in particular trading hesitation, over your trade set-ups is very frustrating and detrimental to the health of your trading account and your emotional and physical well being. Whenever we observe behavior patterns that prevent us from trading profitably value conflicts born out of incorrect assumptions about your reality are always at the root of the issue.
In a world that is changing in all areas faster than is comfortable for the conditioned limited mind, hesitation is ...
How many times have we been told that communication is the key to a good marriage or a good friendship? In the business world, we are told that communication is the key to success. I am a big believer in the power of open communication. It’s one of the main reasons that Guardian Accounting Group has a flat fee structure. We never want our clients to be afraid of talking to us about a tax situation because of an hourly fee. Clients are encouraged to call us with all their tax questions and con...Read More
You can look at markets and make trading decisions in many ways. Market Profile® has been an indispensable tool in my trading career. While Market Profile is a lifelong study, three characteristics I use to increase the probabilities of making successful trades are areas of acceptance and rejection, trade location, and context.
Areas of Acceptance and Rejection
The most useful characteristic of Market Profile is how it paints the picture of acceptance and rejection of price over time. It show...Read More
In a recent interview, Rick Rule of Sprott Asset Management made a strong case that this bear market may be looked back on as “the good old days” in terms of the golden opportunity to invest in the precious metals sector.
Rule said there has been “carnage” in the precious metals markets over the past three weeks, adding to “slow motion” carnage since 2012. He said it is “Difficult for people to see benefit in this type of carnage.” However, he argued, “Three or four years from now, we’ll look...