Market Analysis The US planting intentions garnered much of the market’s attention last week as the USDA’s 2018 corn and soybean survey results were lower than expected. The government won’t utilize this planting data until it issues its first 2018/19 US and World supply/demand outlooks on May 10, but its importance justifies balance sheet creation…
The start of the new month and quarter may bring new tidings for the US Dollar. After muddling around for most of March, proving unmoved by the Federal Reserve’s rate decision to raise rates at their March policy meeting, the greenback has entered April on somewhat uncertain ground: even though the Fed has signaled that…
Latest Price – $1340.20. Daily Chart Pattern – price looks to have been consolidating these past few months and as the price rose into this consolidation pattern it should leave the same way – up. Breaking below the low of this consolidation phase at $1303 could be one area to place stops. Bollinger Bands –…
While Trump has persistently argued for steel and aluminum tariffs as a way to create jobs in beleaguered American industries, the formal legal rationale for the measures is actually an obscure national security clause. Ironically, Trump’s tariffs hit many U.S. allies harder than they hit China which potentially could be a national security threat. Not…
For the average person, understanding price charts is hard enough, add multiple time frames to that and things get very confusing, very fast. Price Charts: Price charts represent the footprints of money, peoples’ buy and sell decisions. Areas on any price chart where you see lots of trading activity suggests relative equilibrium in supply and demand….
Just yesterday I was singing high praise for AMD’s ability to fall hard after a topping pattern. Recent strength in AMD has opened up a window of opportunity. I am shorting it with a stop at 10.64.
The Philly Fed’s Aruoba-Diebold-Scotti Business Conditions Index (hereafter the ADS index) is a fascinating but relatively little known real-time indicator of business conditions for the U.S. economy, not just the Third Federal Reserve District, which covers eastern Pennsylvania, southern New Jersey, and Delaware. Thus it is comparable to the better-known Chicago Fed’s National Activity Index…
Last Monday we published a post noting that the S&P 500’s 50-day average daily change had ticked up to +/-0.92%. Given that every day so far in April has seen a 1%+ move and that nine of the last ten trading days have seen 1%+ moves, it’s no surprise that the reading has ticked up over 1%…
Amazon.com, Inc. (Nasdaq: AMZN) stock shifted higher out of the gate today as a broader rally boosted favorites in the tech sector, lifting the tech-heavy Nasdaq Composite in the process. Analysts continued their crusade to calm investors on Amazon stock, even as the battle pitting President Trump versus Amazon continued with yet another tweet. Another tweet in…
AUDUSD broke above 0.7710 resistance, suggesting that lengthier consolidation for the downtrend from 0.7916 is underway. Further rally is possible and the target would be at 0.7760 area. Support is at 0.7642, only a breakdown below this level could trigger another fall towards 0.7600.
