Monthly Archives: December 2010

Swing Trading Strategies – Coffee reaches target objective on predicted reversal date. [chart]

March Coffee closed at the intersection of the ascending median line and the descending reaction line (235.15) on the December 29, 2010 reversal date. This price action has completed the “action/reaction” cycle on the reversal date, projected several days earlier. The ‘trail day”–the day following a reversal date–can be a very good directional indicator, depending… read more

Swing Trading Strategies – “Action/Reaction” setting up potential sell pattern in N-gas. [chart]

February Natural gas has been trading higher, after bouncing off the descending median line. The eight-day rally advanced Natural gas into the December 28th reversal date, setting up a potential bearish reaction swing. However, the December 28th reversal date failed to trade above the prior high–needed to set up the sell pattern. The following day–Thursday, December 29th–did… read more

Futures news – U.S. Crude oil stocks down again this week.

NEW YORK, Dec 30 (Reuters) – U.S. crude oil inventories fell less than expected last week as refinery utilization rose, according to a weekly report from the Energy Information Administration on Thursday.    Domestic crude stocks dropped by 1.26 million barrels to 339.43 million barrels in the week to Dec. 24, the report showed, against expectations… read more

Futures news – Initial Jobless claims drop 34,000 last week

WASHINGTON, Dec 30 (Reuters) – New U.S. claims for jobless said hit their lowest level in more than two years last week and factory activity in the Midwest grew in December at its fastpace since 1988, evidence the recovery was gaining steam.    Views economic activity accelerated in the fourth quarter were hardened by another report… read more

Swing Trading Strategies – How to use the Median line for a low-risk entry. [chart]

One on the most useful median line trading principles comes into play after the market trades through and closes beyond the median line. This is an indication of strength and it also identifies a low-risk entry point to allow traders to get on broad, if they missed the initial price move, or wish to add to existing… read more

Futures news – Opening call for Grains.

WHEAT – Down 2 to 3 cents per bushel. –  Profit-taking is expected after Tuesday’s rally peaked around $8 a bushel.  Poor condition of Australian crop continue to support the Wheat market. CORN – Down 1 to 2 cents per bushel.  –  A setback can be expected following  the nine-session winning streak in which prices hit highest… read more

Futures News – Weather concerns continues to support Soybeans

CHICAGO (Dow Jones)–U.S. soybean futures are expected to start at a 28-month high Tuesday as forecasts show little chance for rain in hot, dry areas of Argentina and raise concerns about dryness developing in southern Brazil. Traders predict soybean futures will start 7 to 9 cents a bushel higher at the Chicago Board of Trade.… read more

Treasury Yields Pressure Dollar – Trading news

Daily Report: Dollar Sharply Lower after Solid 2-Year Notes Demand, More Bond Auctions ahead.  The U.S Dollar is trading sharply lower this week, with particular weakness in USD/JPY. The dollar weakness is primarily coming from falling treasury yields. Yesterday’s auction of $35b 2-year notes in US attracted solid demand, with bid-to-cover ratios at 3.71 times,… read more

Swing Trading Strategies – Tax Incentives aid bullish reaction cycle in Crude oil. When will it end? [chart]

Crude oil futures remain above the ascending median line support and continue to climb into the January 4th reversal date. The market has been following the bullish cycle in textbook fashion, after breaking out of the latest reaction swing pattern, formed between December 6, 2010 and December 10. 2010 reversal dates. The upward trend is… read more