Treasury Bond Yields Are Turning Up Again

My work has triggered preliminary signals that the correction of the Sept-Dec upleg in the ProShares UltraShort 20+ Year Treasury (TBT) ended at yesterday’s (Jan 12) low of 38.19, and that a new upleg has commenced. Let’s notice that the 24-hour upmove from 38.19 has stalled just below 39.90, which represents the resistance line off […]

IWM & SPY in Precarious Near-Term Technical Positions

Both iShares Russell 2000 (IWM) and SPY (lower chart) are in tenuous technical positions right now. IWM has violated key support at 134.80/40, but has yet to follow-through to the downside, while SPY is probing, piercing, its Nov support line. Let’s see if the bears can get any traction to the downside after inflicting initial […]

NUGT Continues to Play Catch-Up

After the Direxion Daily Gold Miners Bull 3X ETF (NUGT) satisfied our swing target of 7.00 off of the 12.15 Dec 20 lows (5.55-5.51), which represented a very important objective, NUGT’s ability to hurdle and to sustain above 7.00 argues that a more important, more powerful recovery rally is in progress. This rally points next to a […]

Has Natural Gas Started a New Upleg?

Ahead of tomorrow’s Inventory Report, Natural Gas has pivoted to the upside after retracing right to a test of the upside breakout level (3.15/3.20) of its 2-year resistance line. This is very constructive price behavior within a larger-developing bull phase, and argues for a positive reaction to the Inventory Report.  The reaction could perpetuate continued […]

Copper Pops, FCX Spikes 7%

Freeport-McMoRan Inc. (FCX) climbed above 11.50 this morning. By the look of the spike to 11.85, this forced a wave of short-covering, and triggered the upside potential off of its Sept-Nov base formation carved-out between 11.10/30 on the high side versus 9.50/30 on the low side. The optimal next target implied by the upside breakout […]

AAPL Poised for Positive Earnings Reaction

Apple reports Q3 earnings after the close of trading on Tuesday. Wall Street always gets excited when AAPL reports, because investors and detractors are extremely passionate about the potential of the company — positive or negative. All eyes will be on the “line items:” + iPhone 7 sales + Units shipped… Macs shipped… iPads shipped […]

ES Plunges Beneath its 4-Week Support Line

Could it be that the ES (Emini S&P 500) is finally breaking to the downside out of its month-long contracting coil pattern? Since yesterday morning, the ES has pivoted to the downside from 2163.50, and has accelerated beneath the lower-coil boundary line at 2140 to a low at 2133.25 so far. The reason why this time […]

Bullish Set-Up for Oil

Oil climbed 7% from yesterday’s low to high in reaction to the OPEC cutback news. More importantly, perhaps, the overnight price action has been well-behaved, near the $47 area. This suggests that after Wednesday’s vertical upmove, oil is building a bull-flag digestion period prior to upside continuation towards a test of the Aug high at […]
1 2 3 6