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
Tag: ES_F
Trading Range Tightening on All Markets Ahead of FOMC
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
GBPUSD About to Resume Upside
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
S&P500 (ES), Nasdaq100 (NQ) Back to Breakdown Range
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
Commodities Taking Breather Before Resuming Upside
Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly CT pushed further up yesterday, but may tire today following signficant gains over the last few sessions. It now sits near the middle of a channel just under an ascending support turned resistance line (as seen in the daily chart). Although CT’s weekly RSI, Stochastics and MACD are all turningRead More
Commodity Laggards Silver (SI), Gold (GC) Bottoming
Although I feel silver (CME SI Dec14) and gold (CME GC Dec14) are bottoming, I haven’t profiled their charts in today’s list as I still feel their trade setups offer slightly less favourable risk:reward versus my trade ideas presented below. As usual, I try listing as many tradable setups (which I consider trading during theRead More
Corn (ZC), Wheat (ZW) Weekly/Daily/4hr Charts Bullishly Aligning
Corn (CME ZC Dec14) Weekly/Daily/4hr/Hourly ZC is at the end of a descending wedge now (see weekly chart), and its weekly, daily and 4hr RSI, Stochastics and MACD are all sloping up and pointing bullishly. On the 4hr chart, ZC has broken above a descending channel resistance line, and next resistance is only slightly aboveRead More
Cotton (CT) Ready to Rebound
Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly CT saw a bit of hestitation yesterday after Wednesday’s minor bounce, giving up most of the prior day’s gains. The pullback has been shortlived though, as at the time of this writing (early in the Asian session), CT is moving up again and continues exhibiting bottoming characteristics on its weeklyRead More
EURUSD Bottoming, USDJPY Topping
Euro Philadelphia Index Weekly The Euro index can be seen probing a major horizontal support line as seen in my weekly chart below. I originally drew this support line slightly higher (as seen in the chart images used for the Euro index in the last few days), so it appeared as if major support wasRead More
Arabica Coffee (KC) Upward Momentum Increasing
Arabica Coffee (ICE KC Dec14) Weekly/Daily/4hr/Hourly KC added to its rally yesterday, and still looks bullish on its weekly RSI and Stochastics, fueling its march towards triangle resistance (as seen on the weekly chart). Although the daily Stochastics is showing initial signs of tiring, with the weekly MACD not quite having crossed positively yet, IRead More