Spot Gold At A Crossroads?
Gold bugs may need to step up to the plate. Off the December 3rd intra-day low of $1045.4 through February 11th spike high of $1263.9, spot gold surged 21 percent in just over two months. Not bad for an asset … Continued
CoT: Peek Into Future Through Futures
The following are futures positions of non-commercials as of February 9, 2016. Change is week-over-week. 10-year note: On June 5, 2014, the ECB cut the deposit rate for the euro zone’s commercial banks to minus 0.1 percent from zero. It … Continued
Spot Gold Breaks Out, Watching Futures For Future Clues
Spot gold this week took care of not one but two crucial resistance. First, it broke out of a descending trend line going back to April 2013. That trend line persistently repelled gold’s rally attempts, the most recent of which … Continued
Bulls And Bears Cite Data To Suit Own Biases, Even As Markets Telling Us To Be Cautious
The chart below has fodder for both bulls and bears. At least going back to the last three decades – encompassing three recessions, including Great Recession – there have been five occasions in which the spot West Texas Intermediate crude … Continued
CoT: Peek Into Future Through Futures
The following are futures positions of non-commercials as of February 2, 2016. Change is week-over-week. 10-year note: There you go! Again. Less than three months after instituting the first rate hike in nine years, Fed officials are behaving as if … Continued
Exiting SPY Long
Between the January 20th intra-day low of $181.02 and the February 1st high of $194.58, SPY, the SPDR S&P 500 ETF, rallied 7.5 percent… in nine sessions. Too much too fast? Probably. That said, this was preceded by a nearly … Continued
Exiting XLE Long — With Small Profit
To say that energy stocks are back in favor will be an exaggeration, but they have perked up of late. Off the January 20th intra-day low, XLE, the SPDR Energy ETF, has rallied north of 16 percent. That is in … Continued
CoT: Peek Into Future Through Futures
The following are futures positions of non-commercials as of January 26, 2016. Change is week-over-week. 10-year note: Two important developments took place this week in central banking. First, the Fed. This week’s FOMC meeting was a non-event. No interest-rate decision … Continued
Enjoying Equity Rally While It Lasts
Stocks are rallying. In fact, off the intra-day low last week, the S&P 500 index (1906.9) is already up 5.2 percent. Last Wednesday’s hammer reversal on the index looks similar to the ones on October 15, 2014 and August 24, … Continued
CoT: Peek Into Future Through Futures
The following are futures positions of non-commercials as of January 19, 2016. Change is week-over-week. 10-year note: The International Monetary Fund lowers – again – its outlook for global economic growth this year. Warning of bumpier rides, especially in the … Continued