Commodities exhibited a mixed performance yesterday, with some watchlist markets like Natural Gas forging ahead on a new uptrend, while others like Arabica Coffee inched closer towards a tradable bottom. Silver was the worst performer of the day among all of my watchlist markets with it plunging to what appears to be a descending wedgeRead More
The FOMC didn’t fail to disappoint those long volatility going into the announcement, and created ample opportunities around many of the markets highlighted yesterday to either intiate new positions, add to existing ones, or to reposition. Watch out for US GDP (quarter over quarter) and unemployment figures today at 830am EST as well as JanetRead More
Best to be cautious ahead of today’s FOMC announcement at 2pm EST. There’ll likely be minimal market movement leading up to the FOMC, and it may pay to just take the day off trading (for those who trade intraday), and prepare for the opportunities that await post FOMC. Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly CT providedRead More
Today’s market moving data (US Durable Goods and Consumer Confidence #s) will be released at 830 and 10pm EST respectively. There’ll likely be enough market movement leading up to the data releases and just after to make a few intraday trades as well as to reposition ahead of the very important FOMC tomorrow. Those moreRead More
This week’s big news event will be the FOMC on Wednesday with the expectation that the Fed’s QE finally coming to an end. Given that US corporate earnings have largely been better than expected, it is highly unlikely that the Fed change its mind on ending QE this month as had previously been suggested. EitherRead More
British Pound Philadelphia Index Weekly The British Pound index continues bottoming on the weekly chart, and should be close to resuming its upside after several days of consolidating. The MACD black line continues moderating in its negative slope, while the RSI and Stochastics climb slowly out of oversold territory. Let’s take a look at theRead More
VIX (CFE VX Nov14) Weekly/Daily/4hr/Hourly The VIX had a decent bounce yesterday off of support (prior resistance) in the 17-17.5 range (as seen in the daily chart). Adding to the cautiously bullish case of the VIX near-term, on the weekly chart, the VIX can argubaly have bounced yesterday off of an upchannel support line. DespiteRead More
Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly After yesterday’s late session rally, CT appears like it’s just about finished consolidating, and ready to form a higher low (as seen in the daily chart). On the 4hr chart, CT’s approaching downchannel resistance, but given the rising (or about to be rising) RSI, Stochastics and MACD across the weekly,Read More
AUDUSD Weekly/Daily/4hr/Hourly The AUDUSD pushed higher yesterday and now appears to be on the verge of breaking a symmetrical triangle as seen in the 4hr chart. In the daily chart, AUDUSD is edging towards channel resistance around .8875. The weekly, daily and 4hr RSI, Stochastics and MACD are all bullishly sloping up or about toRead More
AUDUSD Weekly/Daily/4hr/Hourly The AUDUSD continues consolidating nicely around a prior major bottom (as seen in the weekly chart). The .8625 to .8875 sideways channel it currently sits within will likely resolve to the upside in the next session or so as the weekly, daily and 4hr RSI, Stochastics and MACD are all bullishly sloping upRead More
