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Natural gas set to bounce

We are watching natural gas prices very closely right now. The technical picture makes a strong case to expect a reversal and rally soon.

The Day Ahead 2017-07-12

The market sees Yellen’s prepared remarks as dovish and thus taking the equity futures up before the day session open.

The Day Ahead 2017-07-11

Today is another light day on the economic calendar which may very well lead to a sedate trading day. The S&P 500 continues to be stuck in a trading range and not much reason to think it will leave it today.

Natural Gas via (UNG) 2017-07-10

The dominant weekly cycle in UNG is bottoming out now and starts to turn up into early 2018 making it interesting to see if a higher low or test of the previous 2016 low takes place over then next couple weeks.

The Day Ahead 2017-07-10

I’ve been asked what I think about the big picture in the equity indices and thus will start with a couple of charts on the big picture and possible timing for inflections. Short summary, think we see a moderate correction over the next few weeks but probably holds up, perhaps even a moderate new high […]

The Day Ahead 2017-07-07

The short term form is opaque but assuming a choppy bounce today in a small degree wave ‘ii’ or ‘b’.

The Day Ahead 2017-07-06

Selling has kicked in overnight in the equity index futures. I am assuming this is the first start of the next leg lower in what will eventually be a corrective formation though could provide bearish market participants with about a 90 S&P point snack once it starts.

The Day Ahead 2017-07-05

The main event today will be the FOMC minutes at 14:00. The broad brush forecast has been to see a bounce up in the equity indices this week which looks to be on track.

United States Oil Fund (USO) 2017-07-04

Since I have started to think that the low in crude is in, I thought I would update the charts for likely the most popular ETF for crude, USO.

Crude Oil futures 2017-07-03

I had been expecting a new low from the bounce high in crude from late last year to develop this year. I had been treating that high as a wave four in an ending diagonal which calls for two motive waves lower with a connector in the middle. While the current low is short of […]