As mentioned in this morning's market update, various agricultural commodities appear to have some of the most attractive R/R profiles right now, especially for long-side trades. The charts seem to indicate that many of these ag commodities appear to be setting up for attractive swing trades with rallies that could last several months & even [...]
Going forward, I plan to do regular updates covering the most attractive sectors, commodities and/or countries as well as the most bearish (for short trading opportunities). In doing so, I will cover the tracking ETFs, which may help less active traders & investors, as well as those the prefer the simplicity & diversity afforded by [...]
The near-term outlook for the US equity markets, crude oil, global currencies, precious metals & miners, and select agricultural commodities.
I've been looking for something worthwhile to post but just don't see any short-term trade ideas that look compelling right now, plus, I think trading might be difficult today and possibly throughout the week with the markets grinding around in a fairly unpredictable range. I am seeing some interesting developments in the energy sector, including [...]
Outlook for the US equity markets, gold (GLD), silver (SLV), gold mining stocks (GDX), oil (USO) and select agricultural commodities (CORN, WEAT, JO, SOYB):
U.S. Equity Markets With my first bounce targets on SPY hit & nearly hit on QQQ, my expectation is for a pullback to begin early this week. My primary scenario for QQQ is a pullback to the 102.50ish level with an alternative scenario of a deeper correction down to the S2 zone (100.70-100.15) before a [...]
Several of the grains, including the ETP's WEAT, SOYB & CORN, appear poised for a decent rally and possible trend reversal on a solid break (and possibly a backtest) of these downtrend lines. SOYB was recently posted as an official trade idea a few days ago with the chart of spot soybean prices including in [...]