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Gold Chart of The Week

June 10, 2013 By 1 Comment

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (June 10th through June 14th)

Last week provided some decent volatility in major markets across the board. Currencies were on the front burner after Europe kept rates unchanged at the ECB monthly policy meeting, and the United States Non Farm Payrolls closed out the week with somewhat of a lame number. While more jobs were created than expected, the unemployment rate did rise by a tenth of a percent.

To close out the trifecta of news from the most important Central banks in the world, we will have to wait until Tuesday to hear from the Bank of Japan who is scheduled for their monthly report, which is expected to provide very little unexpected news. Later in the week, the United States reports Retail Sales and weekly jobless claims followed by PPI and Consumer Confidence on Friday.

I do not expect any fireworks this week unless the BOJ surprises the market with news tomorrow that ignites a directional play in the Yen. If anything is revealed that suggests a slowdown in the BOJ’s Quantitative Easing Program, we may actually see the US Stock Indexes finish lower on a Tuesday for the first time in 22 weeks. If the BOJ maintains their stance on easing and continues to force the Yen lower, we can expect another higher close for the US indexes, just like the prior 21 Tuesdays. [Read more...]

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Gold Chart of The Week

June 3, 2013 By

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

We are on the heels of a week full of important economic reports from the United States, Europe and England. The overnight session was kick-started with news from China that while mixed, was read as bullish for the board. As I write this, US stock indexes are trying to recover from the late week selloff, which was driven by a string of misses in the last few days of the week.

The lineup includes today’s ISM report, Wednesdays Beige Book, and Non Farm Payrolls to finish the week. Additionally, we expect several FED Members to stir the QE pot in interviews throughout the week.

Europe and England both will report Interest Rate decisions this week, which will impact global Currencies and global markets overall. Weeks like these give very good opportunities for day and swing trades, which we plan to take part in. As each day and overnight bring important economic numbers to the trade, it will be important to make adjustments to mitigate risk and capture profit. [Read more...]

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Gold Chart of The Week

May 20, 2013 By

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (May 20th through May 24th)

After wrapping up a week full of economic data in the United States, we now look forward to a fairly light schedule. At this point, most traders realize how insignificant the results of these reports are and they will likely continue to follow the stock indexes with a “buy the dip and enjoy the trip” mentality. Why wouldn’t they? Indexes like the S&P 500 have only spent about a week below the support trendline since the move began in November of 2012. Even after a string of misses in the middle of last week, the S&P Futures only pulled back a fraction of the prior day’s move up. And that was only long enough for the buying to resume and a new high was put in shortly thereafter. [Read more...]

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Gold Chart of The Week

May 13, 2013 By

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (May 13th through May 17th)

Outside of a late week Currencies surge, there were very few fireworks to report in last week’s business. This week however, may be a different story.

Thursday and Friday of last week provided some decent movement in the Dollar and Euro, but it appeared things began in the Japanese Yen, then spilled over. Throughout the last several weeks, there have been multiple attempts to push the Yen to new lows for the year, but it always seemed that somehow the plan was foiled. After the selling pressure triggered stop-orders below support, all other Currencies had to react. There was a firm rebound in the US Dollar and an inverse move in the Euro Currency. Surprisingly, the swings in the Currencies had very little impact on outside markets. In fact, most other sectors of the markets were rather stale and choppy. A Treasury Bond auction had some impact on the 30yr bonds and 10yr Notes, but there was little else in the week that provided any excitement. The same goes for the Gold Futures. Normally, traders would use the direction the Dollar or the Stock Indexes as a guide for what to expect in the Metals, but those former relationships are no longer in play on a day to day basis. [Read more...]

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Gold Chart of The Week

April 22, 2013 By

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (April 22nd through April 26th)

Without any big news to play off of, most markets begin the week a bit flat. Traders this morning are trying to decide whether the only standout rally in the Gold is here to stay, or if it is an early stop hunt to begin the week. We won’t soon forget the Sunday overnight in the Metals last week when Gold continued a drop that we have not seen in over thirty years. So who can blame anyone for being once bitten, twice shy?

A scan across the board does not reveal much except for a majority of the market sectors making an effort to retrace the price action we experienced a week ago. Korea has been rather silent, the tragedy in Boston is seemingly on the mend, and the parade of FED Member interviews is slowly coming to a close. In the absence of these headlines, we will likely go back to trading the actual reports that are scheduled this week. [Read more...]

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Gold Chart of The Week

April 15, 2013 By

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (April 15th through April 19th)

 It has been a few years since the Precious Metals have seen a Friday selloff followed by an even bigger Sunday night drop, but anyone that has been trading since 2008 remembers prior price action like this. And when any sector of the market experiences drops like these, everyone will be racing to the television and internet hoping to find someone bold enough to confidently call “THE LOW”. As far as this article and this drop are concerned, I think it is way too early to begin spouting target prices for a low. With all of the expected margin calls and positioning that will follow, I feel the best thing to do is be patient and let things in the Metals settle down before stepping in for a long term play. There should be many intraday trades available thanks to the expected volatility, but the long term play will be too difficult to depend on this early in the week. [Read more...]

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Gold Chart of The Week

April 8, 2013 By

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (April 8th through April 12th)

After the worst weekly decline of the year in US equities, we are slowly on the mend as we enter a week full of FED activity.

A few standouts from last week included a terrible Non Farm Payroll number on Friday and a full throttle campaign from the BOJ to continue to crush the Yen. Fridays jobs number was a big miss as 88,000 jobs were added and some real numbers regarding the drop in individuals that are actively looking for jobs was revealed. Even after these figures were announced, the stock indexes were only rattled for a short period of time before the realization that the FED will step up Quantitative Easing set back in. Since then, the stock market seems to be holding up fairly well. [Read more...]

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Gold Chart of The Week

April 1, 2013 By

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (April 1 through April 5th)

After reviewing notes and performance from last week in the markets, one cannot help but be impressed by the US stock indexes. Despite reaching record levels on the charts, despite mediocre reports, and despite continued concerns about the ripple effect of Cyprus, the buy switch continued to stay on. The same big question still remains, “when will the market retrace”?

I believe that the stock indexes in the US will begin a gradual decline once European news begins to flow again. It has been too long since we heard the likes of Angela Merkel, Francois Hollande, and Mario Draghi. I think back to last year when these three may as well have been the President, Vice President, and Speaker of the House in the US with all of the press they had here. Yet suddenly, they have seemingly disappeared from all news lately. [Read more...]

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Gold Chart of The Week

March 11, 2013 By

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (March 11th through March 15th)

Will there be a follow through bid up in the US stock indexes this week? That is the million dollar question while Metals remain choppy.

I believe that there is still a bit of upside left in the markets, but not much. If you look back at the reported earnings over the last few weeks, we have seen some fairly good numbers. Many companies have reported better than expected figures, which have given investors a reason to be bullish stocks. The chart pattern shows that investors were waiting for any pullback to buy stocks, and many were ok with buying new highs. It doesn’t get much more bullish than that. [Read more...]

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Gold Chart of The Week

March 4, 2013 By

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (March 4th through March 8th)

I don’t know about all of you, but if I never hear the term “sequester” for as long as I live, I will not complain!

As expected, the US Government did a fine job of hyping the event and waiting until the eleventh hour to make a decision. And as usual, no compromises were made and stock indexes barely flinched. In fact, most global markets seemed to be following scheduled news as if the “sequester” debate was not even an issue. [Read more...]

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