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Chart Of The Week: Starbucks Is Starting to Heat Up

Starbucks has been on the decline since peaking in early April, and while the chart seems to portray a vicious downtrend it is only down about 10% from those highs.  Certainly not a performance to be proud over, but now it appears the stock may have found support at 55 and is ready to rise up again. 

There is a higher low on the chart from the June low, a good start.  Monday's action was constructive, with strong turnover and heavy option flow .  The MACD is turning up and while it's a bit ea...

Aug 24, 2016
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Grain Alert: Insatiable Demand

Aside from eyeing the usual crop condition, export news, and latest weather reports, traders will be given results from various crop tours this week. Pro Farmer’s crop tour and subsequent results could either validate the USDA’s surprising bearish outlook released on August 12th, or could reduce yield and therefore production for this year’s crop. I believe this week’s crop tour could have more influence than in previous years as the USDA called for record yield and production for both beans ...

Aug 24, 2016
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Why Inflation Matters To The Markets Now

On Tuesday minutes from the Federal Reserve’s Discount Rate Committee meeting on July 25 were released.  A total of 8 regional banks out of 12 asked for an increase in the rate, from 1% to 1.25%, up from 6 of 12 at the previous meeting.  The board ultimately decided to keep the rate unchanged at 1%.   However, this piece of news confirms that the Fed is getting ever closer to pulling the trigger on another hike.  Although economic data pertaining to growth has been somewhat mixed, there is cu...

Aug 24, 2016
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Staying One Step Ahead in Crude Oil

Crude oil has demonstrated once again how volume-at-price information allows traders in-the-know to stay one step ahead of everyone else.

Click here to watch a video explaining how to read markets using volume at price.

Crude oil has been marching back to the upside in August, especially since breaking above resistance, now support, at 43.39.  This is a key inflection point, initially defined as support by the high-volume area created back in April-May at 43.39 – 44.83.  That zone of support ...

Aug 24, 2016
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Is a Rally Sustainable? E-Mini Technical Levels

SHORT-TERM

For Tuesday, the 2186.75-88.75 region can contain weekly buying pressures, below which 2157.00 remains an intra-week target, long-term support at 2122.25 attainable within several weeks. Downside today, 2174.25 can contain session weakness - above which the market should retest 2186.75-88.75 within the day. Breaking / opening below 2174.25 signals 2165.75, likely to contain initial selling, yet below which 2157.00 becomes an intra-day target able to contain weekly selling pressure...

Aug 23, 2016
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