Wheat (CME ZW Sep14) moved up nicely during most of Friday’s session, until slamming down in the final 5min of trading to end more or less where it started on the day. Given its gains since the July bottoms, it’s appearing a bit tired on the daily, 4hr and hourly Stochastics and MACD. I amRead More
Wheat (ZW) / Corn (ZC) About To Resume Rally
Wheat (CME ZW Sep14) had a solid performance yesterday, and appears ready to resume its rally off the July bottom. The MACD and Stochastics look bullish across the weekly, daily, 4hr and hourly timeframes now. Amongst all the commodities I’ve been watching, ZW is the closest to seeing a weekly MACD positive crossover. I amRead More
Cotton (CT)’s Rally Yesterday Has Legs
Cotton (ICE CT Dec14) was a standout performer yesterday tacking on more than 2% in gains, and continues its rally at the time of this writing. The weekly MACD green line is flat now, and the daily RSI, Stochastics and MACD all clearly pointing higher. Unfortunately, I exited my longs yesterday far too early aroundRead More
Tesla (TSLA) Forming Double Top
Tesla (TSLA) fell for its fourth day yesterday, creating a bearish profile on its daily chart. Most importantly, a double top can be seen forming between the Monday high and the all-time high made in February of this year. The daily RSI, Stochastics and MACD now all appear to be rolling over. Given the steadyRead More
Cotton (CT)’s Weekly/Daily/4hr/Hourly Signals Aligning
Cotton (ICE CT Dec14) looks fairly uniformly aligned on its weekly, daily, 4hr and hourly Stochastics and MACD now. I am long 3 lots at an average of .6396, and have a sell limit on 1 lot at .645. Corn (CME ZC Dec14) sold off yesterday on profittaking and currently sits within the 365-370 rangeRead More
Natural Gas (NG) Retesting July Low
Corn (CME ZC Dec14) finished off a solid rebound week on Friday with more gains, and remains well positioned this week for more upside. Early this week though, I expect ZC to pullback given that its 4hr chart appears a bit overbought. I’ll be looking to go long a few lots on pullbacks to theRead More
Silver (SI) “Daily Price Fix” Replaced Today with Electronic Pricing Algorithm
Silver’s formerly once a weekday price “fix” is being replaced as of today with an algorithm that will operate fully electronically, more in line with today’s best practices at futures exchanges. Here’s a link to a piece on the revamp from Zerohedge.com. Gold (CME GC Dec14)’s near-term bullish profile weakened somewhat yesterday given the marketRead More
Silver (SI) Readying to Catch Up to Gold (GC)’s Performance
Corn (CME ZC Dec14) gave up some of its post-WASDE gains yesterday, but still remains my long of choice. If you go to Stockcharts.com and pull up $CORN’s Slow Stochastics on a 5yr weekly chart, the %K and %D sit at 3.26, 2.24 respectively. The fact that WASDE wasn’t able to take ZC much lowerRead More
Corn (ZC), Wheat (ZW) Longs Still Well Positioned Post-WASDE
Corn (CME ZC Dec14) and Wheat (CME ZW Sep14) have held up reasonably well post-WASDE, and have recovered all of the initial losses in the few hours following the major release. I was flat going into WASDE, and am now looking to re-enter 3 lots long of ZC with buy limits in the 365-367 range,Read More
Arabica Coffee (KC) Convincingly Resuming Uptrend
After strongly bearish Thursday and Friday action on Arabica Coffee (ICE KC Sep14), where it had almost reached the 61.8% retrace (of the July 2nd half rally), KC powered ahead over 4% yesterday. The gains reversed all of Friday and much of Thursday’s downward slide, and positions it to resuming the longer term rally thatRead More