Markets to Watch

2023-01-27T08:28:46-06:00January 27th, 2023|Charts|

As I mentioned in Morning Commentary, there are a number of markets to watch Friday for potential reversal patterns on weekly charts. USDX: A bullish spike reversal if if closes above last week's settlement of 102.01 Weekly stochastics posted a [...]

July KC Wheat: Follow-Up

2023-01-26T15:12:47-06:00January 26th, 2023|Charts|

During one of my market conversations Thursday, I actually made the comment that Kansas City wheat was following its technical patterns well. Having been around the HRW wheat market all my life, a chill immediately went down my spine after [...]

March S&P 500 Futures

2023-01-24T07:30:09-06:00January 24th, 2023|Charts|

I had a request for an updated look at the daily chart for March S&P 500 futures (ESH3) following the combined rally of last Friday through this past Monday. As always, I appreciate the input and feedback from all of [...]

March Corn: The Next Wave

2022-12-22T08:18:07-06:00December 22nd, 2022|Charts|

As mentioned in Morning Commentary, it's possible March corn posted a Wave 3 peak of its 5-wave minor (short-term) uptrend overnight. The contract hit a high of $6.4475, a solid test of the upside target near $6.4425, the 38.2% retracement [...]

S&P 500 and The Comedy Club

2022-12-21T03:53:01-06:00December 21st, 2022|Charts|

If nothing else, financial television is good for a laugh. In fact, one could make the argument there are better comedy writers on some of these networks these days than those that actually have programs actually classified as situation comedies [...]

March Corn: A Bit Sneaky

2022-12-07T06:22:59-06:00December 7th, 2022|Charts|

As I mentioned in Morning Commentary, it is possible we could see the March corn contract post a bullish reversal pattern on its short-term daily chart Wednesday. March was a bit sneaky Tuesday, as its daily stochastics almost imperceptibly established [...]

Euro: Short-Term Turn

2022-11-23T05:08:35-06:00November 23rd, 2022|Charts|

In my piece for Barchart Tuesday I focused on the US dollar index. The flip side of the global coin is the euro, and a look at the various charts shows downtrends are in place on both the short-term daily [...]

Crude Oil: Talking Crude

2022-11-22T07:15:23-06:00November 22nd, 2022|Charts|

An initial look at the daily chart for crude oil and one sees what could be classified as a spike reversal during Monday's session. The spot-month contract dropped to a low of $75.77 before closing at $80.04, still down $0.04 [...]

Currencies Currently

2022-11-10T08:39:04-06:00November 10th, 2022|Charts|

It has been an active morning for global currencies (slide 1), with much of the excitement occurring following the release of US Consumer Price Index data for October. The US dollar index (slide 2) has already posted an outside trading [...]

Euro: Short-Term Slide

2022-10-27T07:20:20-05:00October 27th, 2022|Charts|

As I mentioned in Thursday's Morning Commentary, the US dollar index looks like it could be putting in a short-term bottom on its daily chart. The flip-side of the global coin is the euro, and its daily chart is showing [...]

Lumber: Slumbering no More

2022-10-20T07:00:29-05:00October 20th, 2022|Charts|

It took a while, but the nearby November lumber contract finally completed a bullish reversal on the market's continuous (nearby futures) weekly chart. Wednesday's session saw November hit a high of $540.00 (per 1,000 board feet), taking out the previous [...]

Boxed Beef: Tenderized

2022-10-03T07:28:58-05:00October 3rd, 2022|Charts|

September was a tough month for the boxed beef market as both choice and select took a beating. For the record: Choice reportedly finished the month at $243.75 as compared to the end of August price of $258.34 and September [...]

S&P 500: Back in Line

2022-08-22T08:16:43-05:00August 22nd, 2022|Charts|

As mentioned in Monday's Morning Commentary, the S&P 500 completed a bearish spike reversal on its weekly chart last week. After posting a new high for the secondary (intermediate-term) uptrend of 4,325.28 the index fell to a low of 4,218.70 [...]

SX & CZ: 2Ps NA Pod

2022-08-01T15:19:35-05:00August 1st, 2022|Charts|

Monday's Chart of the Day actually takes a look at two charts: The dailies for both November soybeans and December corn. As I talked about in Afternoon Commentary, it was a rough day for both though nothing really changed from [...]

Euro: Bringing Buyers Back

2022-06-14T09:03:47-05:00June 14th, 2022|Charts|

A good friend called this morning asking about the euro ahead of Wednesday's expected 0.75% interest rate hike by the US Federal Reserve. While that move should strengthen the US dollar, and weaken the euro, there's a good chance Monday's [...]

Euro: The Next Wave

2022-05-31T07:30:52-05:00May 31st, 2022|Charts|

The euro is under pressure early Tuesday, dropping to a low of 1.06893. This has the currency in position to complete a bearish 2-day reversal, depending on how the rest of there day plays out, a pattern that would likely [...]

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