WHEAT – Down 10 to 15 cents per bushel Pressure from a firm dollar and profit-taking after rising to a 5-1/2 month high and nearly a 2-1/2 year high on big exports of U.S. wheat. * Dry weather continues to be a problem in the U.S. Plains hard red winter wheat region and no relief… read more
Monthly Archives: January 2011
Reversal Dates for the week of January 24 – January 28.
Monday – Copper, Eurocurrency, Cotton Tuesday – Cattle, Wheat, British pound, Australian dollar, Cocoa Wednesday – Natural gas, Dollar index Thursday – Hogs, S&P, Coffee Friday –… read more
Energy news – Crude inventories rise
Crude inventories increased by 2.6 million barrels, for the week ending January 14, from the previous week to 335.7 million barrels and were above the upper limit of the average range for this time of year. U.S. crude oil refinery inputs averaged 14.3 million barrels per day during this period, 389 thousand barrels per day… read more
Futures news – Existing Homes Sales Rise 12.3% in December
=========================================================== Dec Existing Home Sales Dec Nov Consensus: Total Sales: 5.28M 4.70r 4.9M % Change: +12.3% +6.1%r Actual: Months… read more
Swing Trading Strategies – Reversal date triggered major sell in Crude oil! [chart]
In last night’s issue of the TMV Swing Trade report I said, ” Crude oil traded above the prior day’s high (93.02) before the reversal date kicked in and turned the market lower. Crude continued lower for the remainder of the day and closed near the low of the daily price range. The negative reversal date… read more
Swing Trading Strategies – Cattle post major reversal on projected reversal date. [chart]
February Cattle surged to a new all-time high on the January 18th projected reversal date, but failed to hold the earlier gains and closed near the low of the daily session. The long tail, on the reversal dated price bar, warns of a swing pattern failure. A conformation on the swing pattern failure could signal a major top… read more
Futures new – Housing Starts Lowest Since 2009
WASHINGTON, Jan 19 (Reuters) – Groundbreaking on new U.S. home construction fell more than expected in December to its lowest in over a year, suggesting the battered housing sector remains a major roadblock to economic recovery. U.S. housing starts dropped to an annual rate of 529,000 units, the Commerce Department said on Wednesday, down from November’s 553,000 and well below… read more
Grain News and Opening Calls / Futures Broker
WHEAT – Up 13 to 15 cents per bushel. News Algeria bought 600,000 tonnes of wheat on Monday, had purchased up to 1 million tonnes over the past couple of weeks and harsh weather in Australia and the U.S. combine to lift wheat futures. Lower dollar also supportive. CORN – Up 6 to 7 cents… read more
Reversal Dates for the Week of January 17 through January 21.
Monday – Tuesday – Heating oil, Treasury Bonds, Dow Jones, Dollar index Wednesday – Cattle, Crude oil, Eurocurrency Thursday – Wheat, RBOB gas, Silver, Cotton, Sugar Friday – To learn more about Reversal dates, go to www.tradersnetwork.com.… read more
Swing Trading Strategies – New Low, On Projected Reversal Date, Sets Up Bullish Reversal. [chart]
March Dollar index traded to a new low of 78.97, on the January 14th reversal date. The new low was below the prior low of 79.02, posted on December 21, 2010. Soon after the market reached the new low, the market turned higher, rejecting the low, and began to climb. This is bullish price action… read more