Tag Archives | Fibonacci

Risk is Back on Trade of Crude Oil

Crude oil had been a one-sided trade since the start of April until the last few days, falling $12/barrel high to low. Bolstered by sellers who have called the commodity bull market dead, oil got dragged lower and struggled to find its footing until recently. But wait… fast-forward to this week… not only has crude […]

Continue Reading 0

Cuckoo for Cocoa Puffs

Chocolate lovers have an eye on cocoa prices. The debate rages on… will Baby Ruth bars get offered up at a discount? Or will M&Ms soon be considered a luxury item? Ok ok… I tease. But futures traders should have their eye on this oft-overlooked softs market. Cocoa’s been trending lower for the last seven […]

Continue Reading 0

Crude oil finds an Interim Top?

Crude oil has gained $8/barrel in the last month, putting it just a few dollars shy of $100. My stance: the easy money has already been made in bullish trade. Prices moved quickly from oversold to overbought territory as Stochastics shows in the chart below. I think we’re in the process of establishing an interim […]

Continue Reading 0

Heads or Tails on the Dollar?

The US dollar is minting 8-month highs after appreciating 5.4% in the last 60 days. Sunday night’s selloff tested the 38.2% Fibonacci level, where prices quickly bounced. June futures are now at 83.50 and will likely close the week above their 20-day MA (dark blue line). 83.50 remains the line in the sand – from […]

Continue Reading 0

Is the Loonie set to fly?

After starting 2013 with a 5% slide the Canadian dollar has found its footing. It’s up 1.5% in recent weeks and, as I’m writing, we’re trading above the 34-EMA for the first time since early February. Adding further confirmation to my bullish bias, prices have broken above the down sloping trend line that had previously […]

Continue Reading 2

The Almighty Greenback

The US dollar has benefitted from being the best house in a bad neighborhood in recent months. Since the first week of February the Greenback has appreciated 5%, low to high, lifting prices to fresh six-month highs. But this party is over, in my opinion. At least for now… I’m calling an interim top at […]

Continue Reading 2

Bonds triple top in the making

Energy: Crude oil got back nearly half of yesterday’s losses higher by just better than 1% as of this post. Prices are back above the 8 day MA which should continue to serve as a pivot point. At this juncture I am neutral on Crude oil as I think prices could go $3 in either […]

Continue Reading 0
3-18-13 SP.jpg

S&P 500 Makes a Much Anticipated Correction

We heard market moving news out of the Euro-zone this weekend. Stringent terms on a potential ECB-Cyprus bailout triggered talk of bank runs. In my opinion such an event is precisely the type of catalyst that could derail the bull market in equities. I’ve been anticipating a correction for some time now…this may be it. […]

Continue Reading 0
3-7-17 LH.jpg

Catching a falling knife

Catching a falling knife can sometimes be painful and though a bit early on my recommendation to buy pork…it appears the move I anticipated is under way. As of this post April lean hog futures are higher by 3.53% on the day trading above their 9 day MA for the first time since early February. […]

Continue Reading 0
3-5-13 Dow.jpg

No logic in the elated bullish sentiment

I am always reticent when doing analysis on a market at an all time high or all time low when constructing a trade. See above history in the making as the Dow is at all time highs as futures inch towards their 2007 highs. In the last 11 weeks after challenging the 100 day MA […]

Continue Reading 0