Below we provide trading range charts of ten major commodities. In each chart, the green shading represents between two standard deviations above and below the 50-day moving average.
Moves above or below the green zone are considered overbought or oversold. As shown, oil is currently at the top end of its trading range, while gold has moved into oversold territory. Silver is also at the bottom of its trading range, while platinum and copper are at the top of...
Equities rebounded last week, breaking down-channel resistance and registering higher lows. In fact, the S&P 500 (SPY) managed to break above its fifty-day moving average and came within a hair of going positive relative to its ten-month moving average, finishing higher by +3.5% on the week.
In mid-June this year, a report titled "Critical raw materials for the EU"was submitted to the European Commission. Produced by the ad hoc working group of the Raw Materials Supply Group, the report concluded that 14 raw materials can now be considered "critical," meaning their availability has come increasingly under pressure.
The market finally got its reversal, repairing most of the prior week's damage, leaving the S&P 500 (SPY) higher by +5.1% for the best weekly performance of the year. However, we are now just as short-term overbought as we were recently oversold, and only earnings will tell where we go from here.
Below we highlight our trading range chart for ten major commodities. In each chart, the green shading represents between two standard deviations above and below the commodity's 50-day moving average. Moves to the top or bottom of this range are considered overbought or oversold.
As shown, oil is trading pretty much in neutral territory at the moment after bouncing off of oversold levels a month and a half ago. Gold has moved down from overbought levels over the last week, and the metal is...
After another week of serious downdraft leaving the S&P 500 (SPY) lower by another -5.3% on the week and nearly -4% in a month, the major US indices are now extremely oversold with the NASDAQ 100 down a record ten consecutive sessions.
Our technical rotation models' call to remain in currencies and bonds ended up being the correct one as equities moved relentlessly lower for a -3.5% week-over-week decline in the S&P 500 (SPY). Even worse off were Consumer Discretionaries (XLY -5.1%) and Energy (XLE -5.6%) on the slower than anticipated final GDP readings.
Markets continued their march higher on falling volatility with a growing slate of tracking indices recapturing their ten-month moving averages. In fact, the week's action left the S&P 500 (SPY) higher by +2.4%.
An unexpected increase in initial claims for jobless benefits as well as a plunge in the Philadelphia Federal Reserve’s index of regional manufacturing enhanced fear in the overall strength of the U.S. economic rebound causing investor’s to turn to precious metals.
According to the Labor Department, the number of people filing new claims for jobless benefits rose by 12,000 to a seasonally adjusted 472,000, raising significant concern that hiring is lackluster and slow economic growth is in the near future. This increase in new filings raises concerns that...
Below we highlight our trading range charts for ten major commodities. For each chart, the green shading represents between two standard deviations above and below the commodity's 50-day moving average. Moves above or below the green shading are considered overbought or oversold.
Oil has bounced off of oversold levels in recent days, but it is still closer to the bottom of its trading range than the top. Natural gas, on the other hand, continues to surge higher, and it is now trading well into overbought...
By Chip Brian SmarTrend has detected shares of PowerShares DB Precious Metals Fund (NYSE:DBP) have bearishly opened below the pivot of $40.55 today and have reached the first level of support of ...
A fund based on the metal could debut as soon as next month, report says. An exchange-traded fund based on aluminum could launch as soon as next month, according to a Bloomberg report. Bloomberg ...
By Chip Brian SmarTrend has detected shares of PowerShares DB Precious Metals Fund (NYSE:DBP) have bullishly opened above the pivot of $42.18 today and have reached the first resistance level of ...
By Chip Brian SmarTrend has detected shares of PowerShares DB Precious Metals Fund (NYSE:DBP) have bullishly opened above the pivot of $41.56 today and have reached the first resistance level of ...
By Chip Brian SmarTrend has detected shares of PowerShares DB Precious Metals Fund (NYSE:DBP) have bullishly opened above the pivot of $41.47 today and have reached the first resistance level of ...
By Chip Brian SmarTrend has detected shares of PowerShares DB Precious Metals Fund (NYSE:DBP) have bullishly opened above the pivot of $40.06 today and have reached the first resistance level of ...
By Chip Brian SmarTrend has detected shares of PowerShares DB Precious Metals Fund (NYSE:DBP) have bullishly opened above the pivot of $42.18 today and have reached the first resistance level of ...
By Chip Brian SmarTrend's candlestick pattern scanner has detected a bullish engulfing pattern for shares of PowerShares DB Precious Metals Fund (NYSE:DBP) since the stock closed above $39.80 ...
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