First I would like to apologize for the short Weekend Report today as it was a very busy day for me. I will have many more charts to show you tomorrow night as the markets will be closed. The first chart I would like to show you is the short term $WTIC chart which shows…
The streets of Shanghai may have been filled with Chinese dragons and raucous celebrations for a week, but the SSE 180 index was not a recipient of any of that fanfare. In fact, the SSE 180 has plunged from 6912.07 on 14 January to its current level of 6334.76. That represents an 8.3% drop in…
Far too many Forex traders make the mistake of not thinking about what they are trading beyond price fluctuations on a screen. While it is true in trading that price is king and also that prices are never too high to go higher or too low to go lower, you will trade better over time…
Silver prices have given up a bit more than 4% from last week’s high of $15.97 as the increased risk-appetite lowers the demand for safe haven assets like silver. On the flip side, the S&P 500 has risen by 4.8% from its multi-month low set last week. A return of a soft stock market is needed for a…
Few can resist gold’s allure. Its attributes — including malleability, resistance to corrosion and tarnishing, and of course its shimmer — make it ideal for all kind of jewelries. However, gold’s value goes beyond this as it is also a ripe investment option. Investors buy gold bullion and official coins as a hedge against inflation…
The following data cover the latest from the CFTC’s Commitment of Traders as reported by Oanda from the week of from Monday, February 8, 2016. From Oanada: “The Commitments of Traders (COT) is a report issued by the Commodity Futures Trading Commission (CFTC). It aggregates the holdings of participants in the U.S. futures markets (primarily based in…
This is the image run by USA Today showing how quickly the general public assumes long-term changes in trend are at hand. The general headlines said the public lost confidence in the central banks. The public is losing confidence in everything and when that moves to the political arena next year, we should be…
USD/JPY The USD/JPY pair initially fell during the course of the day, but found enough support below to turn things back around and form a nice-looking hammer. The hammer of course is a bullish sign and as a result I think we will probably see this market bounce from here. Ultimately though, I feel that…
The Eurozone’s economic growth was sluggish in the fourth quarter of 2015, posting a weak 0.3% growth for the secondquarter in a row. While it did match analysts’ forecast of 1.5% growth on the year, the outlook for 2016 isn’t looking so hot with Italy’s recovery waning. The southern European country’s GDP grew just…
Here is a closer look at the retracement of gold we have seen as of this morning. While the US markets are closed for Presidents’ Day, the rest of the world is open for business. I will be otherwise engaged at hospital for a colonoscopy, an activity a bit less distasteful that watching the political…
