WHEAT – Down 2 to 3 cents per bushel. Pressure from a firm dollar but market underpinned by concern about dryness in the U.S. western Plains hard red winter wheat growing region. * USDA late on Monday said 47 percent of the U.S. winter wheat crop was in good to excellent condition, up from 46… read more
Monthly Archives: November 2010
Swing Trading Strategy – Does the New Reaction Swing Signal a Major Top in Dow Jones Futures? [chart]
The Dow Jones futures are forming the final leg of a major TR (Trend Reversal) pattern. The long-term upward trend ended with a high close of 11397 on the November 4th reversal date. After testing the downward sloping reaction line during the November 5th session, Dow Jones turned lower and closed lower each of the… read more
Important Economic News 11/22/2010: QE2, European Debt, China
Markets Turned Mixed With Three Themes in Force European debt crisis and China took the spotlight from Fed’s quantitative program last week. The greenback was boosted higher on risk aversion in the early part of the week but reversed as sentiments stabilized. Fundamentally, markets were seeing some lights in the Irish bailout. Technically, risk markets,… read more
Reversal dates for the week of November 22 – November 26
Monday – Tuesday- Wednesday – Cattle Thursday- Friday – Cocoa, Coffee… read more
Grain News and Opening Call – Futures Broker
WHEAT – Down 5 to 7 cents per bushel. End-of-week profit-taking with further pressure by concern about China’s stated plan to raise banks’ reserve requirements to rein in food inflation. * Dry weather in the western growing region of the U.S. winter wheat belt remains a problem for the emerging crop. Recent rainfall in other… read more
Dollar Recovery after China Raises Reserve Requirement Ratio
Dollar is trying to recovery from intraday low after market sentiments are weighed down mildly by more tightening from China. China raised the so called bank reserve requirement ratio by 50bps to “appropriately control” credit and loans. This was the second reserve increase in two weeks as inflation is viewed as a serious threat to… read more
Initial Jobless Claims (unemployment) 11/18/2010
WASHINGTON, Nov 18 (Reuters) – New U.S. claims for unemployment benefits rose slightly last week as expected, a government report showed on Thursday, but the underlying trend remained tilted toward a gradual improvement in the labor market. Initial claims for state unemployment benefits climbed 2,000 to a seasonally adjusted 439,000, the Labor Department said. Economists… read more
Grain Calls and News / Futures Broker
WHEAT – Up 6 to 8 cents per bushel. Technical bounce after the steep slide on Friday that was triggered by talk China would raise interest rates over the weekend. Dry weather stress on portions of the U.S. winter wheat crop and weather concerns in Australia also supportive. * Dry weather in the U.S. Plains… read more
Reversal Dates for the week of November 15 – November 19
Monday – Soybeans Tuesday – Crude oil, Treasury bonds, Cotton Wednesday – Thursday – Friday – Cotton… read more
Swing Trading Strategy – How can “Market Timing Intelligence” make a difference? [charts]
On Wednesday, November 10, 2010, I posted two charts, one for the December Gold and one for the December Coffee. I discussed the “Action-Reaction” time and price projections for both markets and illustrated how the strategy timed the entry and exits signals for both markets. This is a follow up to that post with an… read more