Michael Paulenoff - MPTrader.com - Wed May 23, 12:23PM CDT
Although I am clearly "picking a low" in the ProShares UltraShort 20+ Year Treasury (TBT) this morning, let's notice that today's low at 16.26 was NOT confirmed by my 4-hour RSI momentum gauge. For that matter, it was not confirmed by my daily RSI either, which gives an... (full story)
by Sean Lusk, PFGBEST 1 877 294 7757 slusk@PFGBEST.com Wednesday, May 23, 2012 at 3 57 AM E Mini S&P settles 1314.75 down 1.00 Stock futures see sawed around unchanged for most of the overnight and early morning hours then (full story)
Energy Market Comments by Phil Flynn, PFGBEST 1 800 935 6487 pflynn@PFGBEST.com Wednesday, May 23, 2012 at 8 07 AM Oil zoned out late in the trading session on an admission from former Greek Prime Minister Lucas Papademos who dared (full story)
by Bob Short, PFGBEST 1 800 280 4566 rshort@PFGBEST.com Wed., May 23, 2012 at 9 10 a.m. Central Hogs The monthly Cold Storage report showed 659.5 million pounds of pork in storage as of May 1. This was an in (full story)
Jack Scoville - The PRICE Futures Group - Wed May 23, 10:55AM CDT
WHEAT General Comments: Futures closed lower yesterday on speculative selling seen across the broad range of commodities. USDA showed only a slight loss in crop condition in the reports Monday night, and the harvest is starting with no additional demand news around, so Wheat did not have much... (full story)
Jack Scoville - The PRICE Futures Group - Wed May 23, 10:37AM CDT
COTTON General Comments: Futures were lower on ideas that a softer Chinese economy could hurt import demand and on ideas of big available stocks around the world. The US Dollar was strong and hurt any new demand ideas. Traders remain bearish the market as supplies seem available here and around... (full story)
The Daily Market Update provides some insight into the significant fundamental and technical developments from the previous and overnight sessions and how they could effect the current session's market action. (full story)
Kevin Klombies - TraderPlanet.com - Wed May 23, 8:54AM CDT
Would the markets really do the same thing three times in a row? Our view is that when something becomes this obvious it is time to look for a different outcome. NEW YORK, May 22 - Financial and housing shares nudged Wall Street higher on Tuesday after U.S. existing home sales rose in April to... (full story)
David Moenning - StateoftheMarkets.com - Wed May 23, 7:45AM CDT
It is safe to say that nobody on Wall Street has a crystal ball that can predict much of anything. Why then do so many analysts insist on pretending they can? (full story)
Robert Colby - TraderPlanet.com - Wed May 23, 8:10AM CDT
Highlights based on trading on Tuesday, May 22 , 2012: iShares MSCI BRIC Fund Relative Strength Ratio fell below its lows of the previous 3 years. Emerging Markets Stocks ETF Relative Strength Ratio fell below its lows of the previous 3 years. The Small Cap Russell 2000 Index/Large Cap... (full story)
Jim Wyckoff - TraderPlanet.com - Wed May 23, 8:02AM CDT
July sugar closed down 46 points at 19.92 cents yesterday. Prices closed nearer the session low yesterday and hit a fresh 16-month low. The key "outside markets" were bearish for the sugar market yesterday as the U.S. dollar index was higher and crude oil prices were lower. Sugar prices yesterday... (full story)