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There was a top extension in December delivery Rbob gasoline yesterday. This market was most affected by the hurricane that hit Huston a month ago, which knocked-out some refining capacity. The caused a fear of shortages and the price of…

Yesterday’s small further rally in stocks was enough to cause daily-scale top extensions in the S&P, one of the Japanese indices we follow and the basic material, oil& gas and aerospace sectors (not shown here): This has the usual meaning…

In the August 30th edition we pointed out that the Euro had become strong enough to make a top extension against the £ and that it should be sold. This marked the top of the move and the Euro has…

We wrote in the May 1st edition that tax changes expected in the US to deal with the large foreign cash holdings of US corporates would have effects in the Pharma sector. Later we wrote about the effects on the energy…

Gold and copper both made daily-scale top extensions in yesterday’s thin trading. They have both been rising lately and copper already made a similar signal 4 days ago. This last little upward spurt is presumably because of the latest episode…

German government bonds (Bunds) have risen a lot in the last two months, from the bottom end of their recent range to the top again. Bund futures have now made a top extension and so should now be sold short. The…

The excitement overnight has been North Korea doing what they always do but even more so. Firing a rocket over Hokkaido is typical of the aggressive posture N Korea takes whenever anyone challenges them and should not worry the world…

The recent weakness in US stocks has brought indices down to levels where we expect to find some support. There has been only one bottom extension (so far) but several indices are re-testing support provided by old compressions, as is normal:…

Stock markets are busy but trendless and it may be that a summer lull has started. We pointed out in the July 31st edition that there was some old-fashioned divergence going on in US indices. This is a concept first codified…

Grains have had a wild ride in the last month. A sharp squeeze in late June/early July ended abruptly and prices have fallen back substantially since then. Now we have seen bottom extensions at a daily scale in Wheat, which…