Posted in Commodities, Gold, Weekly Comment on Nov 25th, 2009
The gold market has been making a powerful move to the upside lately. In fact over the last three weeks it has been up almost every day, with prices now turning nearly vertical with many gaps on the daily and weekly charts. Is this move sustainable? Are the fundamentals or the perception of future fundamentals [...]
Posted in Commodities, Daily Comment, QQQQ on Aug 4th, 2008
I haven’t updated this blog for a few days. The stock indexes have been difficult to comment on as they have been going back and forth with wide swings, basically starting to form a sideways channel. Some analysts have called for a bottom. Sentiment is about as negative as its been for some time, and [...]
Posted in Commodities, Daily Comment, SPY on Apr 16th, 2008
The chart to the right is a weekly continuation chart of Rough Rice on the CBT. I don’t trade this market, but it’s just another example of the runaway, parabolic price moves many commodities are experiencing. There are some fundamentals causing part of this price move, but I have to think, like so many commodities, [...]
Posted in Commodities, Daily Comment, Dow ETF on Feb 29th, 2008
Stock index gapped lower today and extended the downtrend for much of the session. The chart to the left of the Dow Industrials is very similar to the S&P chart on the post yesterday. The cash Dow went right up to the declining long term trend channels. I should point out that this channel is [...]
Posted in Commodities, Daily Comment, SPY on Feb 28th, 2008
Stock indexes rolled over a bit today. The chart to the left is the S&P etf with the longer term standard error band trend indicator over the prices. You can see the downtrend in effect with prices coming right up to the declining mid-point line in the last couple of days. Prices tested the pivot [...]