Monthly Archives: April 2010

Swing trade sell opportunity in July Silver. [chart]

July Silver traded to a high of 18.20 and just breached the 60% sell window before turning sharply lower. This price action is forming a potential TR sell pattern. The market needs a trade below Wednesday’s daily low (17.455) to confirm the reaction swing and the final segment of the TR pattern sequence. If the… read more

Grain Calls

WHEAT – Down 1 to 2 cents per bushel. Firm dollar and ongoing pressure from abundant supply of wheat weigh on wheat futures. Neutral reaction to USDA’s weekly export CORN – Up 1 to 2 cents per bushel. * Support from larger-than-expected number for corn in USDA’s weekly export sales report and forecasts for showers… read more

History suggests Iceland’s volcano could trigger major rally in futures.

Iceland has a history of volcano eruptions. Probably the most signifcant is the massive eruption of the Laki volcano in 1783 that lead to one of the greatest disasters in living history.   The Laki volcano eruption occurred in the June of 1783  killing  thousands and spreading a massive haze that covered most of Europe and parts of North… read more

Canada – Benchmark Interest Rate at 0.25%

According to Bloomberg By Greg Quinn April 20 (Bloomberg) — Following is the text accompanying the Bank of Canada’s decision to leave its benchmark overnight rate target at 0.25 percent, and drop a “conditional commitment” about keeping it unchanged through June. The statement was released today in Ottawa. Bank of Canada maintains overnight rate target… read more

Gold turns turns higher on projected reversal date! [chart]

Gold traded up to the ascending median line on April 12. From this high, Gold entered into a sharp decline and reached a low of $1124.00 on the projected reversal date of April 19. This is where Gold found support at the lower parallel line and 20- day SMA and closed at $1133.90, confirming the reversal… read more

Is the corrective rally over for the Japanese yen. [chart]

The current corrective rally posted two closes above the 20- day SMA and breached the down-sloping parallel line before failing and turing lower. This is a “double cross” pattern and portends the beginning of a new downward swing for the yen. The pattern also matches the criteria for a continuation pattern that could mark the… read more

Market Perspective [4/20/2010]

OUTSIDE MARKETS The Dow Jones Industrial Average closed 73.39 points higher Monday at 11,092.05. The overnight session saw the Dow Jones futures trade 2 points higher, indicating the market could see light buying interest Tuesday. Asian markets were mostly higher with the Nikkei down 8.09 at 10,900.68. European markets were also mostly higher. The overnight… read more

CME Livestock Outlook

CST DJ CME Livestock Outlook: Some Hogs To Gain On Fundamentals CHICAGO (Dow Jones)–Pit-traded Chicago Mercantile Exchange hogs are expected to open mostly firm on solid-performing fundamentals. Wholesale pork carcass prices registered their 13th straight day of advances after Monday’s $0.80 per hundredweight higher quote that also reversed pork packer margin’s recent slide. Steady-to-stronger cash… read more