Technical Take: S&P 500 Partial Breakout

What’s in today’s report: Technical take: S&P 500 partial breakout, ISM non-manufacturing index takeaways, Futures are down nearly 1%, economic data & more…

Chart of the Day: Copper Breakout

After threatening to break down just a few weeks ago, Copper futures have surged in recent sessions, breaking out through key resistance near $2.30 to trade to a 1-year high yesterday.  

Chart of the Day: S&P 500 Surges More Than 2% Ahead of Election

The S&P 500 rallied more than 2% yesterday, reclaiming all of last week’s losses as traders positioned ahead of the US Presidential election. But, the near-term trend remains a bearish one in the broad index.  

Bonds and Currencies Report (BOE Surprise?)

It was a generally quiet day in the currency and bond markets as the various cross currents (election, M&A, economic data, etc.) all largely cancelled each other out.  The Dollar Index closed little changed after spending most of the day modestly stronger. The euro was modestly weak for most of trading Monday (down 0.30% at […]

Chart of the Day: SPX Morning Gap Fill

Stocks sold off several points in the opening hour of trade yesterday in what turned out to be a classic “gap fill” between yesterday’s open and Monday’s morning high.  

Chart of the Day: Copper Holds Longstanding Support

Copper tested and held a multi-month uptrend support line yesterday, but if that level near $2.10 is materially violated it could be forecasting a further slowdown in an already very sluggish global growth rate.  

Chart of the Day: Natural Gas Rally

Since we recommended getting long natural gas on September 21st, futures have rallied more than 17% trough-to-peak and we believe there is still more room to run to the upside in both the near and longer terms.