Market CommentaryMore Market Commentary
The United States Oil Fund LP , a crude oil ETF, is down 22.54% from the highs of 2014. This turn has taken place over the last four months amidst a rally in the PowerShares DB U.S. Dollar Index Bullish ETF in the same time period. An end to the Fed’s Quantitative easing program and hints at a rate hike in 2015 are the likely cause for the price action we’ve seen in the U.S. dollar. Now that oil is officially in a bear market is it time to step in or is there more downside to come?
Silver/Gold ETFs Ratio fell below its lows of the previous 5 years on 10/22/14, thereby reconfirming its preexisting downtrend. The trend of SLV/GLD has pointed down most of the time since it peaked on 4/28/11, and Silver continues to underperform Gold.
The S&P 500 Composite Index reversed direction to the downside on Wednesday after rising 4 consecutive trading days. SPX remains above its 200-day SMA but remains below its 50-day SMA, now at 1,966.67. The day-to-day trend is looking uncert...
Ahhhh …. Life is normal again, and it feels right. In today’s sense of normalcy, a learned lesson or two in life resides. One of those is familiar to me from repetition in my childhood and the other I am just starting to learn through repetition. Yesterday, I just “relearned” the latter.
My computer is working. Yup, the same one I gave up on yesterday is the same one I fixed yesterday. I know I said I couldn’t do it, but I was wrong. I was wrong for two simple reasons – I underestimated my na...Read More
December ICE coffee futures a selling opportunity on more price weakness. See on the daily bar chart for December coffee futures that prices are in a steep swoon as the bears have quickly gained downside technical momentum. A move below chart support at Tuesday’s low of $1.9500 would give the bears better downside momentum and it would also become a selling opportunity. The downside price objective would be $1.7500 or below. Technical resistance, for which to place a protective buy stop just ...Read More
A client of mine sent me a bio yesterday on Rod Dedeaux, who was the baseball coach for USC for 45 seasons. Dedeaux was a legendary leader, chalking up more national titles and wins than any other coach of his day. 200 of his players went on to play professional ball.
Dedeaux neither lost his temper nor disrespected or denigrated anyone. He cultivated the ability to befriend, encourage and motivate, rather than criticize and coerce. His enthusiasm was contagious as was his belief in the rewa...
Featured StoriesMore Featured Stories
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...
When fears grip the public about the spread of virulent diseases such as Ebola and other malicious conditions, it is time to assess the situation and enact strategies to enhance safety…health-wise and financially as well.
World health authorities believe that that Ebola and other contagious maladies will have a significant effect on the world economy. The U.S. is enacting emergency procedures and our healthcare industry is gearing up for what will be a difficult challenge for society at large ...
Technical analysis is widely used in the trading community to forecast the market. There are numerous texts on the subject. There are well known traders and authors who have made famous their particular niche, e.g. candlesticks, point and figure, Bollinger Bands®, etc.
There’s even a body, the Market Technicians Association that offers a professional designation to candidates who have demonstrated expertise in the subject matter by passing three levels of rigorous testing and abiding by the ...