WASHINGTON, Nov 4 (Reuters) – New U.S. claims for unemployment benefits rose more than expected last week, government data showed on Thursday, underlining the persistent weakness in the labor market. Initial claims for state unemployment benefits increased 20,000 to a seasonally adjusted 457,000, the Labor Department said, reversing the prior week’s decline. Analysts polled by… read more
Tag Archives: Commodities
Swing Trading Strategies – Gold confirms major TR pattern sell signal. [chart]
Gold has triggered a sell signal after failing inside the 60% sell window. Gold has been forming a bearish TR pattern over the past two weeks after reaching the target objective where the ascending upper parallel line (green) intersected the descending reaction line (red) in conjunction with the projected reversal date (October 13th). Gold posted… read more
Swing Trading Strategies – “Action-Reaction” projects higher Crude oil into November 16th. [chart]
If you have read any of my books or are a frequent reader of my newsletter and blogs you have probably seen me talk about a 3-wave or 5-wave continuation pattern. When identified correctly, this can be used to project price the time , price and duration of a future price move. The pattern will… read more
Swing Trading Strategies – Is the decline in Dollar index coming to an end? [chart]
The long-term decline in the Dollar index may be coming to an end or due or a corrective rebound. Over the past three weeks the Dollar index has formed a bullish TR pattern following the spike low on October 22. The spike low formed the (B) of an (A) -(B) bottom formation, followed by a… read more
Grain News and Opening Calls – Futures Broker
WHEAT – Up 3 to 5 cents per bushel. Weak dollar, dry weather in U.S. winter wheat region and in west Australia wheat-growing area combine to lift wheat futures. * Dry weather is boosting final seedings of the 2011 U.S. winter wheat crop in the U.S. Plains but rainfall is needed, especially in western Kansas… read more
Reversal dates for the week of November 1 – November 5
Monday – Cattle, Soy meal, Japanese yen Tuesday – Bean oil, S&P Wednesday – Cocoa, Hogs Thursday – Corn, Soybeans, Heating oil Friday – Crude oil, Eurocurrency… read more
Grain Calls and News -Futures Broker
WHEAT – Down 3 to 5 cents per bushel. End-of-month and end-of-week profit-taking lending pressure in addition to weight from a firm dollar. * Dry weather is a concern in the U.S. Plains winter wheat growing region, especially in western Kansas and Colorado. It appears that a dry pattern has become firmly entrenched in the… read more
Currencies News / Futures Broker
Currencies news – Daily Report: Yen Up Mildly, Dollar Steady ahead of US GDP Yen strengthen broadly today as risk sentiments are hit by disappointing production data from Japan and Korea. Asian equities are broadly lower also as investors lighten their positions ahead of Q3 GDP data from US today as well as a line… read more
Cotton News – Future Broker
Cotton news – 0925 EDT [Dow Jones] – Cotton futures rebound early Friday, supported by supply concerns amidst continued high demand. Prices fell yesterday following a nearly 50% reduction in weekly U.S. export sales from the previous week, a sign that high prices forced mills to slow their purchases. But analysts say despite the drop,… read more
Grain Calls and News / Futures Broker
WHEAT – Up 10 to 12 cents per bushel. Boosted by dry weather in key wheat areas of the U.S. Plains, including western Kansas, and in west Australia. Dryness also a concern in portions of the U.S. Midwest soft red winter wheat region. Weak dollar also supportive, as is a rumor that China may have… read more