Nice pop this morning in the indices, then we dropped.
I was hoping for $SPY to close the gap at 408 before the sell-off, but that didn’t happen.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Nice pop this morning in the indices, then we dropped.
I was hoping for $SPY to close the gap at 408 before the sell-off, but that didn’t happen.
by Ian Culley
Silver is clawing its way back after breaking down from a month-long consolidation and undercutting a critical shelf of former lows.
As we talked about last week, it all comes down to risk appetite. Silver bid speaks to a healthy risk-seeking environment favoring all precious metals.
And that’s what we saw last week… [Read more…]
by Ian Culley
From the Desk of Ian Culley @IanCulley
Just a week ago, we captured the entire precious metals space in a single sentence:
“Nothing bullish is happening for precious metals, while silver slides below multi-year support.”
Is it really that simple?
Let’s take a look at an interesting development in precious metals that might change our minds…
A Racecar manufacturer is off to the races and it’s time for us to get involved with a bullish bet, defined risk, and reasonable odds of success. [Read more…]
by JC
This month makes it officially 12 years since I started writing every day on All Star Charts.
I just wanted to take a moment to thank every single one of you for all your support over the years.
Originally I didn’t really know why I was doing it. I figured that one day it might come in handy or that I would eventually figure it out.
Boy did I.
This humble blog has taken me to over 30 major cities all over the world, including Asia and Europe.
I’ve met hundreds, and probably more like thousands, of new friends from all different walks of life.
The funny part is that I can easily admit that I’ve learned way more from all of you than you could possibly ever learn from me.
I wouldn’t change anything for the world.
A good lesson that I think is worth sharing is that when I first started the blog in 2011 they told me that there were already way too many bloggers and that I was late to the game.
Do what you want.
Don’t worry about what other people think.
Do what makes you happy.
And don’t forget to thank the ones who helped you along the way.
That’s what I’m doing here.
Thank you from the bottom of my heart.
I love you guys.
– JC
by David
From the Desk of Kimmy Sokoloff
It was a big two-day move in the indices. $SPY went from 392 up to 404 — now that’s some power.
I think we can use a rest under the SPY 405 level then potentially push through to 408.
[Read more…]
by JC
She was always the one.
All along it was the US dollar that was the best indicator.
Old reliable.
So why should we abandon it now?
Look at the US Dollar Index overlaid with the short ETF for the S&P500.
In other words, when the blue line goes up, that means stock market shorts are making money (along with rising dollars). But when the blue line falls, that means the shorts are losing and people who own stocks are the ones making money (with dollars falling): [Read more…]
by Ian Culley
It’s the weekly commodity edition of What the FICC?
The wheat complex looks interesting at current levels, offering trading opportunities in either direction.
Check it out!