Copper, being used primarily as an industrial metal, can be a good gauge for broad economic activity, and thus helpful in making comparisons with the S&P 500. Let’s take a quick look at copper prices – daily chart – over the last few months as well as the popular Copper ETN under symbol JJC. First,…
I wanted to share a very thought-provoking and informative link to a post written by Hale Stewart of the “Bonddad Blog” entitled “Storm Clouds on the Economic Horizon.” In the post, Hale addresses the slight turndown in the April index of Leading Economic Indicators (LEI), which declined 0.1% unexpectedly. He begins by discussing the unexpected…
Gold prices always keep investors on a bumpy ride, though the ride has at some points been straight up.
Let’s take a quick look at the interesting arc pattern – curved trendlines basically – that gold prices are forming and where we stand within that pattern.
Financial companies caught a strong bid this morning, rallying sharply despite news that Congress (the US Senate) cleared a hurdle to approving the Financial Regulation Bill.
Chart-wise, leading stocks like Goldman Sachs (GS) and JP Morgan-Chase (JPM) were at absolute “make or break” support levels… and so far, they’ve held. Let’s see them.
Despite all the volatility in the stock market, crude oil has been falling almost in a straight line, and a lot of people are unaware of this major sell-off in such a major commodity.
Let’s take two perspectives, focusing on divergences, of the entire rally phase and the current range breakout to the downside.
Very interesting developments occurred on the major US Equity Indexes this morning – let’s take a quick fly-by overview of the Dow, NASDAQ, and SP500 to see what happened and what levels to watch next. First, the Dow Jones Daily: This morning, the Dow Jones Index, which is watched by many retail investors and TV…
It’s unusual when a major market ETF will form such a lengthy (intraday, that is) parallel trend channel that lasts a full day or more, but that’s what’s happening now in the SPY. Let’s take a look and if you’re an intraday trader (of futures, options, leveraged ETFs, etc), it might be helpful to draw…
The S&P 500 faces another important test of support here at the 1,100 level, so it will be key to watch what happens here.
I was glancing over the monthly charts of leading stocks and found an interesting volume trend in Microsoft (MSFT) over the years that’s worth mentioning.
I posted yesterday about the importance of the $70.00 level as a “Line in the Sand” Support area for Crude Oil. Yesterday, price tested and – so far – held that level, developing a triple-swing positive momentum divergence along with a classic “Finger” Trade set-up/resolution. Let’s see those and the current intraday oil chart: Reference…