TECHNICAL ANALYSIS US Dollar Index Weekly H-L-C In our update in early October we speculated: The big question is, could we be looking at an intermediate and perhaps even longer term high in the US Dollar? One indicator is that there was critical timing indicated for September 23rd to the 26th for all the financial …
TECHNICAL ANALYSIS The DJIA spent the entire week in negative territory, closing down 2.77% or 953.4 points. The hourly chart is showing a rounded top formation as prices react to frothy sentiment the past two weeks and a cacophony of negative headlines coming from America’s major ‘corporations.’ Prices ended at the bottom of the weekly …
TECHNICAL ANALYSIS The major market indices have been in a schism since the summer lows. For decades now, the consensus axiom is to ‘never fade the blue chips.’ That said, the past years have proven that absolutely nothing adheres to ‘norms’ with fund managers continuously underperforming the general indices. The Dow Jones has continued to …
TECHNICAL ANALYSIS VIX Daily The DJIA closed the week up 1.6% in a whipsaw trade that saw the cash index hit a new intraday low for the entire decline from the highs…then testing the previous weeks highs, prior to losing ground on Friday to settle down 404 points. The S&P, Nasdaq and the FAANG all …
TECHNICAL ANALYSIS The US Dollar has nose-dived and spiked off the recent highs after prices pulled up just shy of the long-term monthly targets outlined in the last update at 11676/11939. The current intraday high print is 11477, set last Wednesday, and since then the market has swooned…retracing over 62% of the rally off the …
TECHNICAL ANALYSIS The DJIA saw a minor reprieve form the selloff in the critical timing window outlined in the last update and plunged again late in the week to close down 2.93% for the third straight week of steep declines on the weekly. For the month of September, the DJIA was down 8.84%…the worst monthly …
Crude oil futures (Z22) closed fractionally higher on Friday and settled week down just under $2 for the nearby futures. The near-term technicals are neutral while the intermediate-term still lean toward a bearish posture. December futures are flagging to the side of the most recent test of intermediate-term support against the 8173/7884 area. As outlined …
TECHNICAL ANALYSIS The DJIA ended an outside week down with a -4.13% loss. Friday’s trade took the index into the previously outlined ‘last-gasp’ support area at 30810/30680. The action filled in the gap that has stood on the daily chart in that area since July 15th. A late rally took prices to close near the …
TECHNICAL ANALYSIS Crude oil futures (DEC22) spiked higher today on the heels of Thursday’s bullish reversal and the daily now looks like a potential bear trap as Wednesday/Thursday’s trade took out both the August and July lows and carried DEC22 futures to the March lows. DEC22 Crude Oil Daily DEC22 futures have dipped into an …
TECHNICAL ANALYSIS New crop November soybeans are trading to the lowest level in a month on the daily chart as that chart continues to build a large flagging pattern to the right of the highs set in June at 1584.75. The daily oscillators and volume and open interest are all solidly neutral for the market …
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