HEDLines – Archive

There were some daily-scale extensions in different markets on Friday to report. Spain made a top extension, which argues that this market should be short-sold again to replace the shorts that we advised covering in late July. This comes a…

Gold and silver both made top extensions yesterday, at a daily scale. This probably means a dip is now coming in the uptrend that we still think will eventually go higher. Brave traders could try a short-sale here but we…

There have been several daily-scale compressions in stocks in the last few days, implying that the current range will soon break. The messages have been mixed but the rally that has taken place in the last few hours seems to…

There was a compression in wheat yesterday. This was at a daily scale as prices have been going sideways for about a month – more than enough time for a daily-scale compression to form, not enough for a weekly. If…

Yesterday, Platinum futures made a daily-scale top extension after a run-up that was reinforced by the recent violence and strikes in the large deep mines of South Africa. Gold is also rising but not as fast (gold mines are unaffected,…

There is some activity in the precious metal and currency markets that we must report. Gold has been compressed at a weekly scale recently, as reported, meaning that a new price move lasting many weeks will soon begin. Those compressions…

Grains moved higher in a four-week surge from late June and are now sitting in a fairly tight range, bounded by the highs of that rally. This surge is seemingly in response to severe crop damage caused by drought in the…

While we were busy working on a grain report overnight, a couple of top extensions occurred in Nasdaq equity indices. US equity markets had started climbing a bit more steeply this week after crawling higher for the two prior weeks.…

The next cluster of turns in equities and bonds is due on Monday, the 20th August and this includes a turn from the long-term Dow industrials index series and its fixed-income equivalent, the long-term Dow US bond index. This cluster…

Gasoline prices (the Nymex Rbob contract) made a daily-scale top extension yesterday, meaning that the present rally will soon stall. This is the second such top extension in the recent up-move – the last one led to a sharp dip…