Commodities Jumped, Will They Continue Higher?

Commodities grabbed news headlines last week, as Gold, Silver and Platinum all presented sharp moves higher. The moves came as traders jumped into these safe-havens, prior to the closely watched employment result that was scheduled to be released on Friday.  Gold presented an enormous intraday break up and moved up by $34 dollars per ounce this week or 3.7%.  This precious metal tested the $1,000 mark, but failed to break the level on Friday, after the employment report.  In addition, silver broke out to new highs for 2009, smashing through trend line resistance to close at $16.23 for the week.   Silver had an outstanding move for the week, moving up by $1.45 an ounce (9.8%), to close around major resistance.  One must note that Gold and Silver are now currently trading around major psychological resistance. Even though a correction is expected around current levels, a break of current levels by the two commodities will confirm a continuation of both the trends.
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Dollar Counterparts Received a Boost at the End of the Session

After a drop at the start of the session, investors grabbed the lower prices, driving the major indices to close with gains. Unfortunately investor’s didn’t pay much attention to the GDP figure yesterday, as Crude oil weighed on the session, dropping below $70. After a tri-star doji pattern the major indices were in need for a correction, but instead of taking profits, investors took advantage of the lower prices to jump on the current trend. The S&P500 closed the session with a gain of 0.28%, while the Nasdaq bounced higher finishing with a 0.24%

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Markets are in Pause Mode, Waiting the Fed’s Decision

Investors pressed the sell button yesterday, preferring to take profits on recent gains. The major stock indices closed in negative territory after presenting a choppy session. After Friday’s interesting day, economic data was brushed aside due to its low priority status, allowing investors to focus on recent earning reports.
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A Volatile Stock Session, USD/CAD at a Critical Level

Tags: Tips, Stocks, Forex, Confidence, House Data, China
Economic data had a major impact on the intraday session yesterday, increasing the daily volatility. After approximately 11 days of gains the S&P500 got stopped in its tracks, as the consumer confidence result weighed severely on investors, sending them back into the Dollar safe-haven.

The start of the U.S stock session yet again encouraged buyers back into the market as the S&P/CS Home Price Index showed for the first time in nearly 3 years an increase. One must note that the index measures the price of houses in 20 regions in the U.S, allowing investors to analyze the strength of the housing market. Even though the major indices opened with minor gains, a majority of them quickly lost their steam, as consumer confidence figures hit the board, showing that consumers are still not overly impressed with the recent economic activity. Confidence showed a 46.6 figure compared to an expected 49.00 points.
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Earnings are Driving the Indices Higher

 Tags : Apple, Stock, Dupont, Caterpillar, Aud, Pound, Dollar, Forex, Yahoo
A lot of tension was felt during the U.S stock session yesterday, as Ben Bernanke gave his quarterly statement about the economy and future outlook, while certain large caps released their earnings.

Fed Chairman Ben Bernanke delivered his testimony on Capitol Hill, mentioning that even though the rate of the contraction is declining, the U.S economy still has a long way to go until it begins to show healthy economic growth. The chairman mentioned that economic growth is expected throughout 2010, but it could still be accompanied by high unemployment. Bernanke also touched on the inflation subject, preparing investors in advanced, incase monetary tightening will be required. To date the Fed has numerous methods that it can carry out to prevent inflation, some of which include selling a portion of its long-term securities holdings and selling bills and deposits.

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There Still Remains One Barrier

 Tags : Stocks , Goog , Goldman Sachs , Cit , Pound , IMF
After weeks of swinging from side to side, the major U.S stock indices bounced higher as traders and investors alike pulled money out of safe-haven assets and rushed back into riskier ones. The beginning of last week already signaled to traders that something promising was about to happen, as the S&P500, the broader market index, bounced off its 200 day moving average, after forming a tri-star doji pattern. (Please note that a tri-star doji is quite rare and will often signal a change in trend).

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Higher Gas Prices Give CPI a Lift, But Annual Prices Drop Most Since 1950

Tag : S&P500, Head and Shoulders, Stocks
At the start of the week, we posted a
potential inverted head and shoulders pattern on the S&P500.
Yesterday's session was characterized by increasing momentum as the
major indices soared higher. The S&P500 broke major resistance and
held onto its gains throughout the whole of the session.
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