September crude oil was lower overnight due to renewed concerns over Europe's debt crisis along with warnings from China that its economy is also slowing down more that previously expected. Stochastics and the RSI have turned bearish with the decline off last Thursday's high signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 85.43 would confirm that a short-term top has been posted. Continue reading "Energy Market Commentary"
Category: General
Futures Pointing To Modestly Lower Open On Wall Street
(RTTNews) - After ending the previous session notably lower, stocks could see some further downside in early trading on Tuesday. The major index futures are currently pointing to a modestly lower open for the markets, with the Dow futures down by 20 points.
Renewed concerns about the financial situation in Europe are likely to contribute to any early weakness on Wall Street after helping to drag stocks sharply at the start of trading on Monday.
Adding to the worries about Europe, credit ratings agency Moody's revised the outlooks on the Aaa sovereign ratings of Germany, the Netherlands and Luxembourg to negative from stable. Continue reading "Futures Pointing To Modestly Lower Open On Wall Street"
Stocks Close Firmly Negative But Well Off Worst Levels Of The Day
(RTTNews) - After moving sharply lower at the start of trading on Monday, stocks regained some ground over the course of the session but still ended the day firmly in the red. Renewed concerns about the financial situation in Europe weighed on the markets.
The major averages moved roughly sideways going into the close of trading, stuck firmly in negative territory. The Dow fell 101.11 points or 0.8 percent to 12,721.46, the Nasdaq slid 35.15 points or 1.2 percent to 2,890.15 and the S&P 500 dropped 12.14 points or 0.9 percent to 1,350.52. Continue reading "Stocks Close Firmly Negative But Well Off Worst Levels Of The Day"
Chart of the Week - Gold
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.
GOLD REPORT FOR WEEK BEGINNING JULY 23rd
As we wind down the month of July, it should be noted that the trading ranges over the last two months have grown more and more narrow. In June, Gold prices traded within May’s range and thus far in July, Gold prices have traded within June’s range. This type of price action is fairly normal this time of year in the precious Metals, but traders are trying to figure out what will drive prices out of the narrowing range. Continue reading "Chart of the Week - Gold"
Morning Commentary for the Indexes
The September NASDAQ 100 was sharply lower overnight over increased concerns that that Greece won't fulfill its bailout commitments and a Chinese policy maker warned of cooling growth. Stochastics and the RSI are diverging and are turning neutral to bearish hinting that a short-term top might be in or is near. If September extends the rally off June's low, the May 4th gap crossing at 2686.50 is the next upside target. Continue reading "Morning Commentary for the Indexes"
