Now Reading
Commodity – Related Charts
28

Commodity – Related Charts

by MoleMay 18, 2011

I have just gone through lots of longer-term charts. This is not my (Volar’s) usual stuff. Just something I have been doing since late last night.

None of these are useful in the short-run, but keep them in the back of your mind going forward. Very straightforward TA here.

CRB Index

CCI Index

GSCI spot futures

Bovespa/Brazil

China

Russia

EEM

Canada EWC

What is my point??? All of these are tied in some form to commodities; moreover, have been highly correlated to the risk trades.

In TA, sometimes people over-think things. When all the high-beta crap starts to make lower highs, a traders should be patient cautions on a directional bias.

Dont get too excited, this could be consolidation before some big up move that screws the bears, but one must consider that much market optimism has stemmed from the global outlook and not the US jobs market.

Good luck trading,

-Volar


About The Author
Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.
  • skynard

    Didn't want to leave the last post. “That's A Spicey”

  • captainboom

    Volar, I notice you had data for New Highs in your Market post the other day. Where are you getting that data? I'd like to find a source for New Highs and New Lows. Anyone?

  • volar

    NYSE publishes it daily here:

    http://www.nyxdata.com/Data-Pr

    Nasdaq does it here:

    http://quotes.nasdaq.com/aspx/

    However stockcharts.com will give u much of that data for about $10/month.

    I am actually switching over to Pinnacle data very soon, nevertheless.

    http://www.pinnacledata.com/id

  • captainboom

    Merci Beaucoup!

  • http://www.facebook.com/people/Aaron-J-Butler/560633708 Aaron J Butler

    VXX and XIV both just broke out to their downside/upside respectively.  Bullish imo.

  • bshah

    Can anyone confirm a blip in RIMM around 1:26 pm to go to 54.12 ?
    Is that considered a precursor to something big coming in ? just curious.. It actually touched 50 MA ..

  • http://evilspeculator.com molecool

    Well, the inverse argument of all your charts may be that this is the perfect spot for a squeeze – we seem to be touching a lot of important support lines. IF they all break then it's off to the cleaners off course.

  • Kudos

    Which is why I really like selling lots of puts with a long /dx

  • Celtic33

    Never really put much stock in Max Pain, but that level is $39 for SLV.  It's conceivable for that to touch close to it over the next 2 days just stick the knife into a hell of a lot of traders

  • Kudos

    disqus = fail

  • volar

    Ya none of the charts are good for ST trading, and there is always a retest ;)I think how the next rally is sold (if) will likely matter more.  
    I just find it interesting

  • Kudos

    Above the VWAP envelop, zero lite not registering a meaningful signal for over a day now. Mole, in your experience what does this mean?

  • http://evilspeculator.com molecool

    Some weird activity in the FXE.

  • http://evilspeculator.com molecool

    Oh, FOMC minutes – that explains it.

  • volar

    wow EUR

  • BobbyLow

    Could be just a bad print.  On my charts it shows a Spike to 54 on the daily but when I go to the smaller time frames including 5 Minute and 1 Minute, it doesn't show the spike at all.

  • nyse

    News? 😉

  • Kudos

    The last 30 min eur/usd candle will probably scare some longs. Agree with mole that it was the FOMC announcement

  • volar

    what no asset sales ! 😉

    hehehe mole knows why the FED does not sell assets

  • gsavli

    what's so weird about it? currencies have been very volatile lately.

  • volar

    I never trade FOMC days… ooopppps forgot it was one LOL

    guess that would explain $TICK going retard

  • ds2

    I called that back at 1.4267

  • gsavli

    oh. i haven't even noticed anything, lol.

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨
    ¨°º¤ø„¸  N E W  „ø¤º°¨
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

    (sorry Volar)

  • http://evilspeculator.com molecool

    Told ya something strange was going on… nobody responded.

  • http://evilspeculator.com molecool

    Yeah, being sarcastic scores you a lot of points… by 'weird' I meant volatile moves in the b/a spreads of FXE options.

  • http://evilspeculator.com molecool

    Sorry mate – changing the comment module is a major move. Am I ready for that? Not sure yet…

  • Anonymous

    When you consider how many money managers have been on Bloomberg over the past 6+ months trumpeting how emerging market equities are the place to be, China, etc., I find it interesting that the Hang Seng, where foreigners can openly participate, has gone nowhere for the past 6 months.  I always get suspicious when I see a number of money managers all breathlessly touting the same thing.  Perhaps it is merely a sideways consolidation before a further move up.  However, distribution comes to mind.  Time and the tape will tell.