The information and opinions expressed below are based on my analysis of price behavior and chart activity Friday, December 13, 2024 March Cocoa Today, March Cocoa closed up 459 to 11280. Since the market made it’s last significant low, on Oct 25th, it has rallied an astounding 5349 pts., or 88.91%, from low to high. This rally has been spurred …
Chart of the Day – February Gold
The information and opinions expressed below are based on my analysis of price behavior and chart activity Wednesday, December 11, 2024 February Gold The February Gold contract rallied sharply today, up 36.20 at 2754.60, as of this writing. This puts the market at prices we haven’t seen since Election Day. The market had started to roll lower a few days …
Chart of the Day – Live Cattle
The information and opinions expressed below are based on my analysis of price behavior and chart activity Tuesday, December 10, 2024 February Live Cattle February Live Cattle settled 2.00 higher today, at 189.025, nearly matching the high close from last week. Monday’s trade activity posted a “Bullish Engulfment” on the candlestick charts, which is usually supportive, and traders pushed prices …
Chart of the Day – January Soybeans
The information and opinions expressed below are based on my analysis of price behavior and chart activity Wednesday, December 4, 2024 January Soybeans January Soybeans settled the day down 8 cents at 9.83 ¾. Uncertainty over “Trump Tariffs” and what they may, or may not, do to or for US Ag business has market participants on edge. The weather in …
Chart of the Day – March Cotton
The information and opinions expressed below are based on my analysis of price behavior and chart activity Monday, November 25, 2024 March Cotton March Cotton closed the day at 71.72, up 0.95, on Monday. That strings together 6 consecutive days of gains which this market hasn’t been able to do since February of this year! A week ago, Tuesday, saw …
Chart of the Day – February Gold
The information and opinions expressed below are based on my analysis of price behavior and chart activity Wednesday, November 20, 2024 February Gold The December contract is still the “front month” for another 10 days, but the Open Interest has shifted to the February contract now and the trading volume will show up in this contract over the next few …
Lower Loonie?
Recent talks of tariffs and trade wars have the relationships with the US Dollar moving around again. Canada is one of the United States biggest trading partners, and the number one spot for U.S. agricultural exports. Anytime we have seen a hint of that relationship interrupted, the Canadian Dollar tends to weaken against the U.S. Dollar. On top of the …
Stocks rebound and inch higher ahead of jobs Data
Rally puts equities up again Equities rallied late in the session after a downward move to start the day. The Dow was dragged down on poor earnings reports, along with the slide a slide in crude oil bringing down energy producers. Crude oil hit a six month low, dropping over 250 points before the day was over. OPEC’s announced production …
Turn around Tuesday
Moving on up The equities rebounded nicely on Tuesday, getting back Monday’s losses and had the futures finishing the day +.62% . The 131 point gain in Dow futures had the index trading above where the market closed last week. The market appeared to be led by the banking and energy sectors. Dow futures started moving higher right off the …
Equities rally, but continue downward trend
Six Year Dip The Dow closed lower on Monday, the eighth session in a row with a lower close. That is the longest losing streak since 2011. The index was able to rally and close down 58 points, after being down nearly 200 points to start the day. Concerns Remain Friday’s pull of the health care bill, sent some jitters …