December Corn: Chugging Along

2021-04-05T07:27:28-05:00April 5th, 2021|Monthly|

As mentioned in Seasonal Analysis Monday morning, the December 2021 contract has extended its major (long-term) uptrend to a high of $4.93 in early April, despite monthly stochastics approaching 100% reflecting a sharply overbought situation. Still, the contract is chugging [...]

Silver: No Clear Path

2021-04-02T11:27:09-05:00April 2nd, 2021|Monthly|

The continuous monthly chart for COMEX silver futures shows us no clear major (long-term) trend. Yes, the market continues to fall back from its peak of $30.16 posted during February, with March hitting a low of $23.965, but the nearby [...]

Gold: Down, But Not Out

2021-04-02T11:21:00-05:00April 2nd, 2021|Monthly|

COMEX gold extended its major (long-term) downtrend to a low of $1,673.70 during March before closing at $1,713.80, down $14.30 for the month. Note the low was a test of the initial major downside target of $1,674.60, a price marking [...]

Cash Soybeans: A Big Wave

2021-02-28T12:52:02-06:00February 28th, 2021|Monthly|

Similar to corn, I'm looking at the long-term monthly chart for a different cash soybean index due to longer history. At the end of February, this index was calculated at $13.6541 (the cmdty National Soybean Basis Index came in at [...]

Cash Corn: No Turn Yet

2021-02-28T12:08:06-06:00February 28th, 2021|Monthly|

Once again, I'm looking at the long long-term month chart for a different cash corn index due to more history. Here we see the cash index calculated at $5.3529 at the end of February (as compared to the cmdty National [...]

S&P 500: Why Not

2021-01-31T14:41:58-06:00January 31st, 2021|Monthly|

To close out the January round of Monthly Analysis, let's slip further into the land Will Have to See It to Believe It. Some of you might recall my monthly post on the S&P 500 from October 1, "If It [...]

Gold: Sign of the Times

2020-12-01T19:37:20-06:00December 1st, 2020|Monthly|

Comex Gold, the third of the Three Kings of Commodities (with Crude Oil and Cash Corn) posted a bearish outside price range during November, include a plunge to a new 4-month low of $1,762.30 confirming the strength of its recently [...]

S&P 500: Super Duper

2020-12-01T19:14:16-06:00December 1st, 2020|Monthly|

The S&P 500 Index ($IPX) closed November at 3,621.63, up 351.67 points or 10.8% for the month. While an incredible move, it still paled in comparison to the 11.8% gains posted by both the Dow Jones Industrial Average and Nasdaq, [...]

US T-Bonds: Ring of Fire

2020-12-01T18:52:17-06:00December 1st, 2020|Monthly|

Johnny Cash's famous song best describes the major (long-term) trend of US 30-year T-Bonds (ZB), "...fell into a burning ring of fire. ...went down, down, down and the flames went higher..." While there are a number of markets with unclear [...]

Euro: A Change of Plans

2020-12-01T17:35:22-06:00December 1st, 2020|Monthly|

As you likely recall, I've been a euro bear (and US dollar index bull) for a number of months now. However, if we remove the noise from a standard monthly price chart and focus on monthly closes only, November's settlement [...]

Brazilian Real: Real Low

2020-12-01T17:14:32-06:00December 1st, 2020|Monthly|

The Brazilian real (BRL) closed the month of November at 0.18748, just off its recent major low monthly close of 0.17407 posted the month before. The reality of this long-term monthly chart is it is hard to make an argument, [...]

US T-Bonds: The Weakening

2020-10-31T14:09:30-05:00October 31st, 2020|Monthly|

The December US T-bond contract fell to a new 4-month low of 171-22 during October, extending the major (long-term) downtrend before closing the month at 172.15. The downside target area is between 165-11 and 154-10, and with monthly stochastics still [...]

The Euro: Down Time

2020-10-01T10:55:56-05:00October 1st, 2020|Monthly|

A look at the long-term monthly chart for the euro (priced in US dollars, EURUSD) shows as clear a bearish key reversal as you will dry in any market. Early in September the EURUS posted a new major high of [...]

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