March Silver – The January 3rd reversal date triggered a significant reversal after March Silver futures posted a new multi-year high on Monday, January 3, 2011. Tuesday’s session began with a lower gap opening and the market continued to fall under heavy selling pressure, dropping $1.80 before making a slight rebound into the close. This… read more
Monthly Archives: January 2011
Swing Trading Strategies – Projected Reversal Date Identifies Major Top in Crude oil! [chart]
February Crude oil –Monday’s new high was preceded by a three-day corrective pullback that had formed a potentially bullish reaction swing. Crude traded above the prior swing high (91.88 posted on December 27, 2010) but failed to close beyond the 91.88 high. Instead, the market pulled back inside the swing pattern and closed near the… read more
Futures News – U.S. Private Employers add Jobs!
Futures news – NEW YORK, Nov 16 (Reuters) – U.S. private employers added 297,000 jobs in December compared with a revised gain of 92,000in November, a report by a payrolls processor showed on Wednesday. The November figure was originally reported as a gain of93,000. The median of estimates from 27 economists surveyed by Reuters for… read more
Grain News and Opening Calls / Futures Broker
WHEAT – Down 1 to 2 cents per bushel. Profit-taking after CBOT wheat rally to five-month highs and as high-protein KCBT and MGEX wheats rose to two-year highs due to deterioration of Australia’s crop amid excessive rainfall and flooding and on dryness in the U.S. Plains HRW wheat area. * Australia wheat quality slumps in… read more
Reversal Dates for the week of January 3 through January 7.
Monday – 1/3 – Wheat, Silver, Dow Jones, Australian dollar Tuesday – 1/4 – Bean oil, Crude oil Wednesday – 1/5 – Corn, Wheat, S&P, Dollar index, Eurocurrency, British pound Thursday – 1/6 – Cattle, Soy meal, RBOB gas, Natural gas, Heating oil, Gold Friday – 1/7 – Silver, Cotton Reversal dates are dates projected… read more
Opening Grain Calls and News / Futures Broker
WHEAT – Up 18 to 20 cents per bushel. Flooding in global wheat producer and exporter Australia boosting prices to a five-month high. ** Bitter cold temperatures over the weekend in the U.S. Plains hard red winter wheat area likely caused little to no harm to the crop as a blanket of insulating snow covered… read more
Futures news – U.S. Construction spending a 5-month high in November.
WASHINGTON, Jan 3 (Reuters) – U.S. construction spending rose more than expected in November to touch its highest level in five months, a government report showed on Monday, afurther sign that the economic recovery was gaining momentum. The Commerce Department said construction spending increased 0.4 percent to an annual rate of $810.2 billion, the highest… read more