Yesterday's apparently gratuitous swoon recouped a nasty intraday loss and then some, but the rebound would need to go a further 50 cents, exceeding a 34.060 'external' peak recorded on February 9, before we infer that anything interesting is happening. In the meantime, the p midpoint support of the pattern shown (assuming the so-far point […] Read More
The crude oil market has a well-defined resistance area between 103.90 and 105.80, with a pair of hidden pivots just above there at 106.39 and 106.60. The late-2011 decline to 74.95 was the biggest pullback in the oil price since its historic post-bubble low. A very fast rebound from 74.95 to 103.37 has been followed […] Read More
Yesterday's action in the gold market was dramatic but inconclusive with respect to which way the next big move will go. The low of 1706.70 is visually outstanding but has not (yet) become part of any useful patterns. Gold traders should now be watching a series of prior highs ranging from 1739.20 to 1818.80, as […] Read More
Wednesday night's bullish tout anticipated the miserable stupidity of yesterday's rebound, which effectively transformed the previous day's equally stupid decline into a v-shaped swoon. Where to next? Probably higher, but does anyone really care? In any event, the rally created a bullish impulse leg on the hourly chart -- one with a short k-A segment […] Read More
Primer for Investing in Canadian Farmland [A while back, our good friend Tom McCafferty argued here that few investments are likely to outperform Canadian farmland over time. In the essay below, he explains how you can invest in Canadian farmland yourself. Besides being a former farm realtor, Tom is the author of numerous acclaimed books […] Read More
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When Does the Bull Market’s Steep Rise Become a Blowoff?
February’s Buying Mania Shows No Sign of Slowing
DXY – NYBOT Dollar Index (Last:101.18)
The Yellow Flag Is Out
Yellen’s Idea of a Heated Economy
With AMZN’s Effortless Recovery, the Smart Money Is Ready to Rampage
Bull Trades in Gold, Silver and TLT
Inflation Ahead? Yeah, Sure.
A Tone Change in Long-Term Rates?
Bullion Looks Poised to Leap