Commodities Countdown

Commodities Countdown Video Recording 2017-06-15

Here is the link to the Commodities Countdown 2017-08-15. The surge in the $USD causes some concern. Quite a few of the commodities have moved below their 40 WMA. Global concerns start to rear up. A big review of the currencies and the conflicting moves in them highlight this week.

Commodities Countdown Video With Greg Schnell 2017-06-15 from on Vimeo.

Good trading,
Greg Schnell, CMT, MFTA.


US Dollar ($USD) Becomes The Elephant In The Room

Commodities have been struggling recently, even while the $USD has been declining. Today marks an important place on the charts. The dwindling momentum on the MACD and KST on this $USD chart may be pointing to changing times. Both appear ready to start turning higher on the $USD chart. If the downtrend in the $USD is ending, this chart becomes the elephant in the room for Commodities in general. If the dollar is going to rise, Commodities will struggle to rally with a dollar headwind.

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Commodities Countdown Video Recording With Greg Schnell 2017-06-08

Here is this week's Commodities Countdown 2017-06-08 recording. I made an effort to point out a few different viewpoints on some potential moves in the Commodities space. There is information on Oil, Natural Gas, Gold, Silver, Copper, Steel, Corn, Wheat, Soybeans and Uranium.

Commodities Countdown Video With Greg Schnell 2017-06-08 from on Vimeo.

Good trading,
Greg Schnell, CMT, MFTA.


Breadth Indicators Are Getting Close To Breakdown Levels

Martin Pring's trusty Dow Diffusion Indicator (!PRDIFDOW) has been dripping lower lately. A few people have asked to see more on this indicator so I thought I would share it in a blog rather than a video. If you would like the video version, I covered it on the Canadian Technician Video Recording 2017-05-16.

First of all, the Dow has 30 components. So the minimum and maximum on the scale is 30 and -30. The Dow Diffusion Indicator monitors the number of stocks in a rising or descending trend. When it gets below 15, The Dow can move higher but there is not a lot of breadth to the move. When it is below zero, the  Dow usually declines. Remembering the size of Apple, it is pretty dominant, and the other large cap technology stocks in the Dow have been very supportive. Apple, Intel, Microsoft and Cisco, have all been moving pretty good. When the diffusion indicator drops below minus 15 (-15) and starts to turn up, its a pretty good buy signal. The November dip only made it to -11. This is updated End of Day (EOD) so watch to see if it goes below zero. 

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Is This A New Commodities Comeback?

Commodity related stocks are rallying this week after a significant blood letting for all those who hold long positions in the area. After crude oil broke its 1-year trendline, and Natural Gas tested the bottom of the range, all of the ratios have significantly improved this week. Using some of the same charts I used on Monday's get ready article, we can see a significant improvement already.

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