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Oil Continues to Outperform Equities

ES (Emini S&P 500) already has recovered half of yesterday's decline, and is approaching key resistance at 2057/62, which if hurdled and sustained, will argue strongly that yesterday's breakdown...

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WTI Continues to Climb Ahead of the OPEC Meeting

The Feb-Mar Oil advance from 26.05 to 41.90 inflicted important and consequential damage to the intermediate-term downtrend from the June 2014 high at 107.73 when the price structure thrust above 35.00...

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Continued Recovery Strength in the Canadian Dollar Argues for Still-Higher...

Let's notice that the USD is pressing on its March low at 1.2860, a level last seen in July 2015. It should come as no surprise that "petro-currency" CAD has climbed 14% since Jan 20 as Crude Oil has...

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XBI Acts Well, But The Pattern Argues for Upside Acceleration Much Sooner...

The weakness in SPDR S&P Biotech ETF (XBI) from its Apr 7 high at 58.38 into the Apr 12 low at 53.42, followed by an upside pivot reversal into today's high at 57.04 has the right look of a classic...

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Corn Making a Major Bottom?

In the aftermath of its end of March plunge from 21.45 to 19.92 in reaction to a USDA report indicating Teucrium Corn ETF (CORN) area plantings for the forthcoming harvest season, CORN has recovered...

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Doha Bust? Now What for Oil?

Post-Doha, Oil has declined about 5.5%, from above $40 into the $38 area, just above its Feb-Apr support line, which crosses the price axis in the vicinity of 37.50 today. Based on my pattern work, all...

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A Pivotal Day for Both ES and Oil

This is shaping up to be a pivotal session in both ES (Emini S&P 500) and Oil. Let's notice that ES is bumping up against its month-long resistance line, now at 2100, which also represents the...

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ES and Oil Continue to March to a Bullish Beat

 The most salient features of the enclosed chart is the bullish stubbornness of ES (Emini S&P 500) coupled with the thrust of Oil above its prior, post-Doha rally high at $41.35. In the case of the...

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NYMEX WTI Crude Oil Continues to Exhibit Strength and Buoyancy

The most salient feature of my intermediate-term technical set-up in nearby NYMEX Crude Oil is the fact that after failing to hurdle its 200-Day EMA twice in March and April, the price structure is...

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MSFT! What Now?

This is what we discussed yesterday before earnings: -- The near-term set-up heading into earnings later this afternoon: -- Trend: bullish/peaking -- Momentum: waffling, and set-up for an upside...

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A Picture is Worth 1,000 Words Heading Into Wed's FOMC Policy Statement

And if the FOMC continues to exhibit a cautious economic and inflation outlook at this week's meeting, will these two markets continue to converge: Dollar Index down concurrent with another upmove in...

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NYMEX Oil Continues to Exhibit a Favorable Technical Set-Up

Heading into today's session, Oil is trading about 3% beneath its April high, but more importantly, remains above both its flattening, 200-Day EMA, now at $41.85, and its rising 50-Day EMA, now at...

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XLF Continues to Grind Higher in Sympathy with 10-Year YIELD, Ahead of...

XLF continues to grind higher towards my next optimal target zone of 23.75-24.00. So far, the high PF print is 23.65. The most recent upleg from 21.85 has coincided with the lift of 10-year YIELD from...

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BOJ Hesitates, and the YEN Plunges

In today's BOJ Meeting, Kuroda & Co., decided to forgo any additional stimulus measures (after publicly suggesting they might), which immediately triggered an exodus into Yen (out of Dollars) to...

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As April Comes to an End, All Eyes on the US Dollar

As we approach the last hours of April, let's notice that the DXY (Dollar Index) and the CRBC (Commodity Index) are on the verge of enter "accelerating convergence," after spending the past two years...

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All Eyes On The DXY Heading into Friday's Jobs Report

In an otherwise boring and uneventful Monday, let's notice that DXY (Dollar Index) has pressed beneath its prior, significant pivot low at 92.63, established last Aug 24. Inability of DXY to reverse to...

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GDX is in the Grasp of a Full Blown Correction Within a New Bull Phase

The Market Vectors Gold Miners ETF (GDX) climbed from its Jan 19 low at 12.40 to a high on May 2 at 26.17, a gain of 111%, in what my work argues is the completion of the first upleg of a...

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My SPY P&F Chart Set-Up Looks Increasingly Vulnerable Heading into Friday's...

My Point & Figure Sell Signal remains viable today. Yesterday, SPY pressed to a new reaction low print at 204.50, as the price structure digs deeper into the prior support zone from 206 to 203.50....

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NYMEX Oil Remains Firm Above $43.50 Support Despite Intense Price Volatility

Another view of nearby NYMEX Oil, which argues that all of the action off of the April 29 high at $46.78 represents a high-level, bullish-congestion zone above the March-April $43.50-$44.00 upside...

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Crude Oil Tests Both High and Low Sides of its Recent Range, What Now?

The post-April 29 range between $46.50 (roughly) and $43.25 remains intact, but is testing the lower side of the range as we speak-- after probing the upper part of the range on Sunday eve trading. My...

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