Market CommentaryMore Market Commentary
As a technical analyst, my job is to find the most reliable and predictable patterns out there and make the assumption that they will repeat. But that is a pretty big leap of faith, isn't it? Well, if you follow charts and technicals you find they represent the very emotions that embody the crowd of players. Look at any chart and you can see the fear and greed, polarized emotions which exist on a spectrum of where we as individuals often slide from one side to the other. We all fear losin...Read More
The market open this morning suggests it has other things on its mind, other than the Fed and its tapering timetable. In fact, the strong surge into the green after the jobs report came out suggests it actually does care about the fundamentals, that positive economic numbers do matter, that all that writing I have been doing about the tapering issue is nonsense is, well, right on.
The reality, folks, is the jobs number is the single most important number to the Fed, along with the inflation ...Read More
March Swiss franc futures a buying opportunity on more price strength.
See on the daily bar chart for the March Swiss franc futures that prices are in a four-week-old uptrend and have just hit a fresh five-week high. The bulls have the near-term technical advantage as “the trend is your friend.” A move above chart resistance at Friday’s high of 1.1203 would become a buying opportunity in the “Swissy.” The upside price objective would be 1.1500, or above. Technical support, for which to place a...
Gold has been on one of greatest historical runs of any asset class, but that is about to end in 2013, probably for the foreseeable future. The yellow metal finished higher in twelve consecutive years, outperforming most asset classes by a mile. But all streaks must come to an end, and it appears this year will be the first down year in the a baker's dozen. So far gold is down nearly 30% for the year, it would need to move mountains to get into the green for the year. This may not be the ...Read More
I always know I’m on to something when I get a barrage of hate mail. Actually, “hate mail” is a bit anachronistic. These days, hating is done via snarky Twitter posts and comments at the bottom of articles .
While this is not quantifiable by any stretch, I do view it as something of a contrarian indicator. Investors only feel compelled to write hate mail when they feel insecure and have allowed their emotions to take control. In these cases, it’s generally safe to take the other side of t...Read More
Featured StoriesMore Featured Stories
With the holiday season and year end approaching, the IPO market looks poised for one more flurry of deals before firms close their books on 2013. Among the twelve confirmed upcoming IPOs is one more headliner that is sure to generate plenty of interest.
Hilton Worldwide Holdings , the world’s largest hotel company with over 4,000 properties worldwide, is set to go public on December 13, offering 112.8 million shares within a range of $18-$21. Given the prominence of the IPO, it’s not surpr...Read More
Without a doubt wave labelling is one of the most important skills an Elliott Wave practitioner must learn and work on.
It is of my opinion that this is where a lot of students of the principle fail in understanding and gaining the real benefits of the principle, this requires in-depth knowledge of the patterns, rules and guidelines. A diagram of an idealized Elliott Wave Cycle should always be in clear view of the analyst and under that multiple degrees of the wave labelling the practitione...
A few colleagues and I were chatting after their return from a recent trader’s expo, and the topic of Futures versus Forex came up.
This seems to have been a hot topic from the event and the subject of numerous debates between the various traders in attendance. The forex traders argued in favor of their ability to trade day and night, without the time constraints futures traders' experience. Futures traders contested that their wide variety of trading opportunities, ranging from currencies, e...
Whenever we look at different places where to put our money, real estate has always come to our minds as traditional investors have made lots and lots of money in this market. It’s only in recent times that with a credit freeze, the brick market has suffered an important contraction.
Fortunately, the tide seems to be turning as we see some interesting growth in the chart of the PHLX Housing Sector Index .
NAHB HOLDS ABOVE 50
The first reason that makes us think this market is ready for us to ...Read More
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