WHEAT – Up 6 to 7 cents per bushel. Falling dollar and short-covering amid oversold technicals combine to lift wheat futures. * USDA late on Monday said 53 percent of the U.S. winter wheat crop had been planted, up from 33 percent a week ago and slightly behind the five-year average of 54 percent. *… read more
Tag Archives: Commodities
Swing Trading Strategies – Silver trades into a cluster of Reversal dates, what does that mean? [chart]
December Silver advanced into a cluster of reversal dates (Tuesday, September 28 and Wednesday, September 29). Silver reached the reaction line price objective in concurrence with the reversal date cluster. This combination will typically have a strong influence on the next market direction over the short-term. Thursday—the “trail day”—began with a trade above the September 29thhigh, reaching… read more
Argiculture Report /Futures Broker
CHICAGO, Sept 30 (Reuters) – The U.S. Agriculture Department on Thursday pegged U.S. corn stocks as of Sept. 1 at 1.708 billion bushels, above trade for 1.412 billion bushels. Stocks stood at 1.673 billion a year ago. The USDA, in its quarterly grain stocks report, estimated soybean ending stocks on Sept. 1 at 151.1 million… read more
Swing Trade Strategy – Long Sept Copper hits target objective – big winner!
On September 14th, I posted this commentary and recommendation about the December Copper. Soon after this was posted the market traded through the trigger price to elect the buy signal for a long position. December Copper – Copper resumed the longer-term bullish trend after ending the four-day corrective pullback into a projected reversal swing date.… read more
Grain Stocks / Futures Broker
US Sep 1 Stocks: Soybeans 0.151 Bln Bushels, Vs 0.571B US Sep 1 Stocks: Corn 1.708 Bln Bushels, Vs 4.310B Jun 1 US Sep 1 Stocks: Wheat 2.459 Bln Bushels, vs 0.976B Jun 1 USDA US Revised 2009 Soybean Crop 3.359 Bushels USDA 2010 All Wheat Crop 2.224 Bln Bushels; Vs 2.265B Aug… read more
Crude Oil Inventories / Futures Broker
NEW YORK, Sept 29 (Reuters) – U.S. crude oil inventories fell slightly more than expected last week on lower imports, a government report showed on Wednesday. Stocks of gasoline and distillates also dropped, against forecasts of builds, as refinery utilization slumped 2 percentage points to 85.8 percent, according to the report by the U.S. Energy… read more
Grain News and Calls / Futures Broker
WHEAT – Down 18 to 20 cents per bushel. Improved crop weather in several important growing areas, including drought-hit Russia, long-liquidation and profit-taking combining to weigh on wheat market. * Improved chances for rainfall in the drought-hit regions of Russia will boost soil moisture and aid germination of newly sown winter wheat. * Favorable weather… read more
Initial Jobless Claims 9/23/2010 -Futures News, Jobless Claims Unexpectedly Rise
WASHINGTON, Sept 23 (Reuters) – New U.S. claims for unemployment benefits rose unexpectedly last week, government data showed on Thursday, highlighting continued labor market weakness. Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 465,000, the Labor Department said, breaking two straight weeks of declines. Analysts polled by Reuters had forecast claims… read more
Grain News and Opening Calls – Futures News
WHEAT – Up 8 to 10 cents per bushel. Dry weather in Australia, Russia and portions of Argentina, combined with a season-ending frost in Canada that may have harmed some of the immature crop, boosts wheat futures to six-week high. * Frost kills Canada crops, Wheat Board sees quality concerns. * Showers in portions of… read more
Swing Trading Strategy – Using the Median line, combined with the Reversal Date Indicator, to enhance market timing. [chart]
According to Dr. Alan Andrews, one of the main median line trading principles was that price will return to the median line 80% of the time. Secondly, if the price trades up to the median line and gaps down or makes a long-range day away for the median line, it is a sell signal. Understanding… read more