Arabica Coffee (ICE KC Dec14) Weekly/Daily/4hr/Hourly/30min/5min After yesterday’s late session rally, KC sits increasingly well positioned for a resumption of its uptrend. Crucially, the weekly and daily RSI, Stochastics and MACD are all trying to bottom, with the exception of the weekly MACD which still slopes down slightly. I’ll continue watching for a near-term peakingRead More
FOMC Today, Scottish Referendum/LTRO Tomorrow
Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly/30min/5min CT has now retraced almost half of the rally from its July low to its peak last week. It is showing bottoming action in the 4hr and hourly chart, and is fairly near the rising support line shown in the daily chart. CT also remains above longer term downchannel resistanceRead More
Netflix (NFLX), Tesla (TSLA) Plunge
Corn (CME ZC Dec14) Weekly/Daily/4hr/Hourly/30min/5min ZC had a nice bounce yesterday positioning it now at channel resistance as seen in the 4hr chart. I anticipate potentially significant upside once uncertainty over the Wed FOMC statement lifts. In the meantime, I went flat yesterday at breakeven and will try to re-enter my long slightly lower inRead More
USDX, Euro Added to Watchlist
Corn (CME ZC Dec14) Weekly/Daily/4hr/Hourly/30min/5min Although ZC pushed lower Friday, it increasingly looks ripe for a bounce. I am long at 341.55 with the expectation that the descending wedge support (in the weekly chart) will hold, and open the way for an attempt at breaking above wedge resistance. The weekly and daily RSI and StochasticsRead More
Busy US Session Expected w/ Retail, Consumer Sentiment Figures
VIX (CFE VX Sep14) Weekly/Daily/4hr/Hourly/30min/5min The VIX continued trying to trade higher yesterday, but stalled at a lower high versus Wednesday’s high. After a few trades at a modest profit yesterday, I am currently long at 13.8 and am targeting 14.2 for now. The weekly and daily RSI, Stochastics and MACD are now mostly pointingRead More
Raw Sugar (SB) Added to Watchlist
BUXL (Eurex GBX Continuous Front Month) Weekly GBX began stabilizing yesterday, after initial weakness early in the session. The weekly RSI and Stochastics still slope steeply down, and the weekly MACD signal line should be crossing negatively in the next few sessions suggesting more bearish action overall in the weeks to come. Let’s take aRead More
US Stocks Following US Treasuries and German Bonds Lower
BUXL (Eurex GBX Continuous Front Month) Weekly GBX continued pushing lower yesterday, with the the weekly RSI and Stochastics still steeply falling suggesting more downside for the balance of this week. The weekly MACD signal line is also turning lower, and should be crossing negatively in the next few sessions. Let’s take a look atRead More
BUXL (GBX) Resuming Downtrend
BUXL (Eurex GBX Continuous Front Month) Weekly GBX resumed its downtrend yesterday on the December14 contract, while the continous front month chart seen below shows yesterday as an up day. Irrespective of which chart is used, the weekly RSI and Stochastics continuing their fall below their warning lines at 70 and 80 respectively. The weeklyRead More
Corn (ZC), Wheat (ZW) Trying to Reclaim Jul-Aug Lows
Wheat (CME ZW Sep14) Weekly/Daily/4hr/Hourly/30min/5min ZW is clawing back towards the descending triangle support line seen in the daily chart. On the 4hr chart, this support turned resistance line is just above current levels. I will wait for a break back above this resistance line before looking for a long setup. The weekly and dailyRead More
Busy Trading Day with Volatility Spike Post-NFP
BUXL (Eurex GBX Sep14) Weekly After four days of falling, the GBX short idea still has legs. The weekly RSI and Stochastics are now crossing below their warning lines at 70 and 80 respectively. The weekly MACD signal line is also turning lower, with the weekly MACD histogram now falling for the first time followingRead More