The Japanese Yen weakened against the U.S. Dollar overnight, putting it in a position to challenge a level not seen since August 2009. Signs of improvement in the U.S. economy while Japan is considering another… Continue reading
Although April crude oil is down close to 7% since its late January top at $98.66, last week’s action is a sign that the market may be gearing up for a short-term rally. For weeks… Continue reading
The March E-mini Dow Jones Industrial Average soared last week to a new all-time high. Positive comments from Fed Chairman Ben Bernanke the week-ending March 1 carried over to last week, giving the market a… Continue reading
The March E-mini S&P 500 finished higher on Thursday, but well off of its high. This is likely related to profit-taking ahead of tomorrow’s European Central Bank meeting and Friday’s U.S. Non-Farm Payrolls report… Continue reading
If Wednesday’s action in the March Euro is any indication, traders selling weakness may have to be careful applying pressure following a break through the bottom at 1.2965. During the trading session, a late sell-off… Continue reading
The seven month old rally in the Nearby Euro futures market came to a halt on February 1 as investors pared positions and took profits ahead of the monthly European Central Bank meeting. After nearly… Continue reading
Daily March E-mini S&P 500 Gann Analysis
Daily March E-mini S&P 500 Index
Today is a critical day for the March E-mini S&P 500 Index futures contract. Despite making… Continue reading
An overnight drop in demand for higher risk assets is putting pressure on the March E-mini S&P 500 futures contract overnight. After reaching a new high for the year at 1522.00, the market had no… Continue reading
Going into the second half of the week, the March Japanese Yen is the foreign currency to watch. The price action on the daily chart is suggesting that sellers may be a little tentative about… Continue reading
Nearby crude oil futures finished slightly lower last week. The nearby futures contract weakened despite a potentially bullish drop in U.S. jobless claims and an improving Chinese economy. The market could have weakened further if… Continue reading
After a sharply lower close the week-ending January 18, the March Swiss Franc futures contract posted an inside week and higher close on Friday. With the main trend up on the weekly chart, last week’s… Continue reading
The March Euro futures contract dodged a bullet last week when it failed to follow-through to the downside following its potentially bearish closing price reversal top at 1.3413 the week-ending January 18. The subsequent rally… Continue reading
After a 9 week rally, the March Euro posted a closing price reversal top last week. This chart pattern often signals the start of a 2 to 3 week break, but not necessarily a change… Continue reading
The March E-mini S&P 500 futures contract is currently sitting inside of a triangle chart pattern bounded by Gann angle resistance at 1467.50 and Gann angle support at 1460.00. The triangle chart pattern is considered… Continue reading
U.S. stock index futures ended mixed on Tuesday with the March E-mini NASDAQ finishing the weakest. The index felt the brunt of a sharp sell-off in Apple (AAPL) which closed below the psychological support level… Continue reading
A combination of risk aversion and a weaker German economy pressured the March Euro on Tuesday. Traders flocked to the U.S. Dollar for protection in anticipation of a possible stalemate in the debt ceiling hike… Continue reading
The March E-mini S&P 500 held steady on Wednesday on the heels of solid earnings from Alcoa and on the outlook for an improving economy. Overbought conditions may have led to the tentative trade, however… Continue reading
The March E-mini NASDAQ 100 futures contract is trading flat-to-better ahead of the shortened New Year’s holiday session. The index is currently straddling a key Fibonacci level while trading on the bearish side of a… Continue reading
The March Canadian Dollar is giving back earlier gains after a surprise pop to the upside. On Friday, the contract survived a test of a Fibonacci level at 1.0010 by posting a low at 1.0011… Continue reading
Concerns over the U.S. fiscal cliff becoming reality are helping to drive the March Euro lower overnight. Currently, the market is finding support on an uptrending Gann angle slightly above a main bottom. A failure… Continue reading