HEDLines – Archive

We called for a short-term rally in commodity markets but have retained medium-term bearish views on most of them. Now we try to determine when the rally phase will end and declines resume. There are some turns due this week…

The general rally in commodity prices that started with a couple of bottom extensions in grains has now produced the first top extension, in crude oil: Just because this commodity rally started quite uniformly, it would be a mistake to…

There was a top extension in the $ against the Swiss franc pair yesterday. This is the second such signal in the last few days, the first being in £/$ as shown in the second chart: We already advised buying…

We are expecting a turn today in US and some other (principally Asian) equities. We have now seen what Asia did today, so can draw some preliminary conclusions: Turns can mainly mark highs or lows and the prior trend determines…

There are a few turns expected in the next few weeks. As already warned, there should be a grade 2 equity turn next Monday the 8th July, together with turns due in grains and precious metals. This is the first…

Stocks, bonds and precious metals have all bounced after making bottom extensions, as reported recently. This renewed enthusiasm for buying assets of all kinds has spilled over into copper and energy markets too and we now have some reasons to…

There has been a daily-scale bottom extension in Gold. This is not the first warning that declines will end hereabouts as we also saw a weekly-scale bottom extension last week. This week has brought a bit more weakness, so there…

Eurobund futures made a daily-scale bottom extension yesterday, following the series of similar signals seen in US bonds and notes on Friday. This means that Eurobunds (actually, German government bonds) may also now be bought. They have been stuck in…

Yesterday we advised selling any rally in European and US stocks that might occur today or tomorrow in order to establish short positions, for those not already short.  Instead of rallying, prices have simply dropped and now we see widespread…

Several extensions occurred on Friday in US Treasury instruments. The five and ten – year note yields both extended, as did the prices. We are always a bit more impressed by signals from the yield series than by signals from…