There are many negative signals developing in the Gold chart. The recent double top was followed by a three-day corrective bounce that reached the 60% sell window on a projected reversal date (December 14, 2010). Wednesday’s trading session opened with a gap lower and the market is currently trading below the prior day’s low. A… read more
Monthly Archives: December 2010
Swing Trading Strategy – Bullish Reaction Swing Portends New Advance in Crude oil. [chart].
January Crude oil has formed a bullish reaction swing over the ascending median line. The market dipped down to the 20-day EMA just minutes before a 9.85 million barrel drawdown was reported in the EIA weekly petroleum supply and demand report. This caused Crude oil to rally off the 20-day EMA and trade above the… read more
EIA Energy Stocks 12/15/2010 – Futures Trading News
NEW YORK, Dec 15 (Reuters) – U.S. crude oil futures prices turned positive on Wednesday after government oil inventory data showed crude stocks fell much more than expected last week. U.S. crude oil stockpiles fell 9.85 million barrels last week, according to the Energy Information Administration, much more than the drop of 2.5 million barrels… read more
Grain News / Futures News
CHICAGO, Dec 15 (Reuters) – Signs of good export demand supported Chicago Board of Trade wheat and soybean futures early on Wednesday, traders said. Shortly before the futures market opened, Egypt announced it bought 110,000 tonnes of hard red winter wheat from the United States. Additionally, Jordan bought 150,000 tonnes of U.S. hard red winter… read more
Retail Sales 12/14/2010 : Futures Trading News
WASHINGTON, Dec 14 (Reuters) – Sales at U.S. retailers rose more than expected in November as consumers splurged on clothing and other items at the start of the holiday season and receipts at gasoline stations surged, more evidence the economic recovery gathered steam in the fourth quarter. The Commerce Department said on Tuesday total retail… read more
Swing Trading Strategies – Are Treasury Bonds ready for a rally? [chart]
March Treasury Bonds have reached the December 13th reversal date after undergoing a substantial price decline after breaking out of November 15 through November 30 zigzag continuation pattern. The T-bonds tested the reaction line target objective early in the trading session before turning higher and traded back to the high of the daily trading range. This… read more
Swing Trading Strategy – Swing pattern failure setting up strong buy signal for Japanese yen! [chart]
A double bottom formation appears to be setting up a buying opportunity for the March Japanese yen. The market traded below the prior swing low and dipped to 1.1186 before reversing and trading higher. The market was not able to find new sellers below the previous swing pattern and traded back into the consolidation. This… read more
Opening Grain Calls and News / Futures Broker
WHEAT – Up 4 to 6 cents per bushel Weak dollar boosting market in addition to ongoing concerns about harvest delays, crop conditions in Australia as well as dry weather in U.S. Plains * Dry weather and wide temperature swings will cause further stress to the hard red winter wheat crop in western areas of… read more
Reversal dates for the week of 12/13 through 12/17
Monday – Hogs, Natural gas, Silver, Treasury bonds, Japanese yen Tuesday – RBOB gas, Gold, S&P, Eurocurrency, Cotton Wednesday – Cattle, Dow Jones Thursday – Soymeal, Canadian dollar Friday – Corn Learn how reversal dates can help you trading. www.tradersnetwork.com… read more
Swing Trading Strategy – Energy building for a significant move in Coffee. [chart]
Coffee has been forming a consolidation pattern over the past few weeks. I look at this sideways consolidation pattern and see two smaller reaction swings inside the larger reaction swing (identified by the high pivot on November 9 the low pivot on November 16th. The three reaction swings have formed a bullish pennant formation and that gives… read more