The U.S. stock market followed the lead of European markets on Tuesday and headed lower. The move in Europe started after UK Prime Minister Theresa May surprised everyone by calling for early elections in June. The Prime Minister is looking for a unified front ahead of the Brexit process. The Pound surged as the US Dollar tumbled on the news. …
Currency comment 4/18
The U.S. dollar fell moderately lower Tuesday in a continued corrective move. The euro fx and Swiss franc moved higher. The real star in fx markets today was the British pound. The pound moved strongly higher as traders reacted to the news that Prime Minister May has called for a snap election in the UK for June 8. This news surprised most …
Absolute Momentum Strategy – Weekly Snapshot
Below is a snapshot of open trade positions in the Absolute Momentum Strategy investment. The total open trade equity in the portfolio inclusive of fees and commissions as of the close of trading on Friday, April 14th, 2017 = $8,733.75 LAST WEEK IN TRADING Long Term Commodity Trader click to enlarge Long June 30 Year Bond was entered at 152.14 on …
Currency comment 4/13
The currency markets were thrown into turmoil late Wednesday afternoon when President Trump said he thought the U.S. dollar was too strong. This sent the dollar much lower and foreign currencies higher. This movement continued on Thursday although the extent of the move was diminished. The effect was more extreme in the U.S. equity markets which moved strongly lower on …
Currency comment 4/11
The U.S. dollar fell moderately on Tuesday as foreign currencies rallied. It was normal profit taking after the recent strength in the dollar. The biggest currency action was the Japanese yen which moved up over 100 points on aggressive speculative buying. U.S. stocks fell while bonds saw a strong rally on “safe harbor” buying. The real stars on Tuesday were the …
Windy City Jim’s – Daily Trade Recommendations (4/12/17)
Futures Day Trading Signals (Wednesday, April 12th, 2017) Author: Windy City Jim 312-948-9456 NEVER RISK MORE THAN YOU CAN AFFORD TO LOSE. CALL FOR RECOMMENDATIONS ON PROTECTIVE STOPS. SEE FULL DISCLAIM ON FUTURES TRADING AT THE BOTTOM. WE ONLY ENTER THE MARKET IF THE PRICE HITS THE BUY OR SELL POINT BUY SIGNAL Commodity : May Coffee Previous Closing Price : 14020 …
Livestock Report
Live Cattle June Live cattle rallied from the38 % retracement level (111.76) and traded to a high of 113.65 on Monday, April 10, 2017. It couldn’t quite make it to the March 23 high (114.20) as the 21 DMA (113.725) stopped the advance. Price failed from the high and Live Cattle traded down to the low of the day (112.10). …
Equities struggle to hold on to gains
Dow Jones futures moved higher of the open on Monday, before getting knocked down mid -day. The index traded just shy of 20,700 then pulled back almost 150 points on geo-political headlines. Reports of 150,000 Chinese troops along the North Korean border gave the market a push down before holding near the 20,550 level. The market rebounded nicely, climbing back to …
Livestock Report
Live Cattle June Live cattle made its low (108.67) for the down move on Wednesday, April 5, 2017 trading to the 50% retracement level (108.775) of the rally from the October 13 low (96.10) to the January 19 high (121.45). Thursday and Friday saw price recover from support as Live Cattle rallied past the 38% retracement level (111.76) to 112.70. …
Currency comment 4/7
The U.S. dollar pushed strongly higher Friday; foreign currencies were much weaker. The main cause of the strength in the dollar was a surprise military strike by the Trump administration against Syria. The cruise missile strike was as punishment for the poison gas attack by the Syrian government against their own population earlier in the week. Stock indices were higher …