Commodities were mostly higher yesterday as energy futures jumped on bullish production data, however, both gold and copper underperformed with mild losses. The commodity ETF, DBC, added 0.93% on the day. Metals traded inverse to the dollar yesterday, which initially rallied on solid economic data but then pulled back to close only slightly higher after[…]
Commodities were mixed yesterday as gold continued to trade heavy while crude oil futures bounced back after Wednesday’s pullback. The commodity ETF, DBC, rallied 0.49% on the day. WTI crude oil futures rallied 0.44% yesterday thanks to three bullish catalysts. First, oil rose in sympathy with gasoline futures thanks to the ongoing colonial pipeline outage[…]
WTI crude oil futures approached a technical tipping point yesterday as they rallied into a near-term, downtrend resistance level. Where futures close today will be important for the near-term direction of energy prices.
Gold futures are currently in a “consolidative pullback” from the post-Brexit highs in June; however, the longer-term trend remains bullish.
It was brought to our attention by our friend Myra Saefong at MarketWatch.com that the EIA noted the production number in Wednesday’s weekly inventory report incorporated “re-benchmarking,” and apparently skewed the figures in the release. Here are a few thoughts on the subject. An imbalance showed up between the monthly and weekly production data, and[…]
Three Keys to an Oil Bottom Oil is up more than 20% from last week’s lows, and the “this is the bottom” crowd is growing larger. We have harped on the fact that a bottom in oil is key to a rally in stocks, so we want to clearly spell out what events could occur[…]
This market volatility could give us all whiplash by the time the year is over. Last Wednesday, the S&P 500 was teetering on support at 2050. By Friday, it was back to 2100. Today, we’re right back in the middle (but things are starting to get heavy again this afternoon). These are the types of[…]
Last week, Taylor, who is one of our long time FA subscribers, called in and I immediately noticed a nervous tone to his voice. He said that he had been out of the office for a couple weeks because he and his wife just had their first child. Taylor explained that he was now “out[…]
Last night while I was finishing research on a list of seven catalysts to watch in Q4, I kept asking myself the question “Can the Market Finish Positive This Year?” It’s not going to be easy. Today is the last day of a terrible 3rd quarter, and as we start the 4th quarter I haven’t[…]
After several weeks of watching second and third string players battle it out on the pre-season grid iron, we have finally made it to the opening day of football season as the Steelers and Patriots face off in Foxbourough tonight. And, as I was reading the sports section this morning, I got to thinking about[…]