Tag: Fibonacci
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Option Queen Letter
We’re back! We apologize to our readers for the great deal of time that has passed since putting out our last letter but are happy to say that we are back in action. If you look at the daily chart of the S&P 500 futures continuation, you will see a large “W” formation. We closed…
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Blue Light Special in Aisle 4 (Cotton)
Cotton prices have grinded higher since the beginning of December as one can see by the chart below. In this time frame prices of July futures have appreciated approximately 17% lifting trade to their highest levels in 27 months near 97 cents/lb. This likely has something to do with the most recent US cotton harvest…
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Cocoa – Precipitation Should Assist in a Correction
After climbing 18% in the last 60 days cocoa prices have consolidated in recent weeks just under the $2500 level in December futures. I am operating under the influence that an interim top has been established on 8/20 at $2547 or $100 above current trade. I am expecting a challenge of the up sloping trend…
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FCOJ – A Retracement Ahead
On the one month relative performance OJ has been the best performer with November futures higher by 12% as of this post. Me being a contrarian I’d like to fade this appreciation with clients. As one can see prices have been running into resistance for the last two weeks just above current trade as identified…
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British Pound – The Cable is disconnected…Did you pay your Bill?
I alluded to this move in yesterday’s daily Commodity wrap and it looks like the move anticipated is underway. As of this post futures are trading lower by 0.74% and under their 50 day SMA (dark blue line) and 34 day EMA (orange line). I am operating under the influence that an interim high was…
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Whippy action in the Treasuries complex
Energy: Crude oil will close under its 18 day MA but on its highs we failed at the 8 day MA. I remain bearish but did have some clients lighten up as not to be short large size over the weekend. I still think a trade under $100/barrel is in the near future. On higher…
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CAD – The Loonie has a Broken Wing
I hate to date myself here but as a young man I was very fond of the video game duck hunt- a “classic” shooting game for the first version of Nintendo. Just as those birds fell from the sky I think the Loonie short term is headed south. Most followers are aware I have been…
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Coffee Perks Up
In the last three days coffee has appreciated nearly 10 cent or 8.5%. Has the sleeping giant awoken? For weeks now I have tried to sway would be commodity speculators/hedgers, investors to position themselves for a coming appreciation. Today futures are challenging their 50 day MA (red line) for the first time since 5/17. It…