(524,35)APPLE is extending in a strong way its move up starting forming gaps on the way up. The slope of the move up is also getting very steep suggesting the market is getting a little too overbought!! The indicators of the daily chart are positive but already a little too overbought. Continue Reading…

(1351,50)The S&P confirmed a nice overshooting today supported especially by the strong move up in Apple. Only a daily closing above 1352,30 will support higher levels suggesting an extension toward the 1370 area where we have now the s/t target! Continue Reading…

(1731,80) GOLD is still well bid above 1730 but it Is till failed to extend the move up, at least for now. While above the 21 ma line we can expect a retest of the 1750 area. The indicators of the daily chart are still well positive and at the moment also those of the s/t charts are above the line. Continue Reading…

London Stocks End Dn; Sentiment Hit By Greece

FTSE 100 finishes down 0.1% at 5892.16. The index is unable to hold onto gains as reports emerge that European officials are pondering whether to withhold Greece’s bailout funds until after the country’s general election. Continue Reading…

May wheat traded 1 1/2 cents higher late in the overnight session. Outside market forces look positive for grain markets today with a weaker US dollar and strength in metal and equity markets. A burdensome supply outlook with record high US soft red winter wheat ending stocks and record world ending stocks seen as bearish. Continue Reading…

March natural gas prices grinded higher during the early morning hours and back up toward Tuesday’s high of $2.596. March natural gas saw gains of more than 4.0% during yesterday session, helped in part by technical buying and reports that US nuclear outages have pushed offline capacity back above the fiveyear average. Continue Reading…

May soybeans were trading up 6 1/2 cents late in the overnight session. China futures closed down 0.3% overnight and palm oil futures in Malaysia closed down 0.3% after a strong rally early. Continue Reading…

March crude oil rallied throughout the overnight hours, with prices making an early morning break above yesterday’s high ($101.84). The early gains in the crude oil market seemed to come from a positive risk-on mentality, supported by slightly better than expected Euro zone GDP readings and a vow by China to continue buying European sovereign debt. Continue Reading…

While the silver market seems to have started the Wednesday US trade out on a positive footing, the March silver chart hasn’t exactly thrown off the pattern of lower highs and lower lows. While silver is expected to take a lot of direction from US scheduled data and from the action in the US equity markets today, some traders will also be watching the action in the Euro very closely. Continue Reading…

The cocoa market has been able to follow through on Monday’s sharp rally, although prices could not climb above yesterday’s highs during early trading. While there was no single catalyst for yesterday’s severe mid-session rally, an ongoing large net-short cocoa position by non-Commercial traders left the market vulnerable to a severe shortcovering
up move. Continue Reading…