Dominate Your Market
Wednesday, September 13–Jim Wyckoff’s Morning Markets Report
OVERNIGHT DEVELOPMENTS
World stock markets were mixed in quieter trading overnight. U.S. stock indexes are pointed toward weaker openings when the New York day session begins, on some mild profit taking. The U.S. stock indexes have set record highs this week.
Gold prices are higher in pre-U.S.-session trading. Gold prices are still in a near-term uptrend despite some profit-taking pressure seen this week.
Tuesday, September 12–Jim Wyckoff’s Morning Markets Report
OVERNIGHT DEVELOPMENTS
World stock markets were mostly firmer again overnight. Early this week has seen trader and investor risk appetite return to the world marketplace. U.S. stock indexes are pointed toward firmer openings when the New York day session begins. The U.S. stock indexes are at or near record highs. The world stock markets are so far “thumbing their noses” at what have been historically troublesome months of September and October.
News the United Nations Security Council late Monday imposed new sanctions on North Korea that were not as harsh as the U.S. wanted is being perceived as somewhat de-escalating the tensions between the U.S. and North Korea.
The Euro currency futures market remains in a strong uptrend and prices last week hit a 2.5-year high. “The trend is your friend” is a tried and true market adage. The path of least resistance for the Euro currency remains sideways to higher–until there is a significant near-term technical signal to suggest otherwise. Stay tuned!–Jim
Monday, September 11–Jim Wyckoff’s Morning Markets Report
OVERNIGHT DEVELOPMENTS
Global equity markets were mostly higher overnight. U.S. stock indexes are also pointed toward higher openings when the New York day session begins. The U.S. stock indexes are back near their recent record highs.
Traders and investors worldwide are somewhat assuaged by news that Hurricane Irma, while still devastating much of Florida, was not the catastrophic storm that many weather forecasters thought would occur. Also, North Korea did not launch another missile over the weekend. Saturday was a North Korean holiday and many thought the rogue nation would show its military might.
Gold prices are seeing selling pressure amid the better risk appetite in the world marketplace to start the trading week. The metal is also seeing some profit taking from recent good gains.
Friday, September 8–Jim Wyckoff’s Morning Markets Report
OVERNIGHT DEVELOPMENTS
Global equity markets were mostly weaker overnight, heading into an uncertain weekend that sees a major hurricane bearing down on Florida and a still-very-worrisome U.S.-North Korea geopolitical situation. U.S. stock indexes are pointed toward weaker openings when the New York day session begins.
Gold prices are higher and hit a 12-month high overnight, on more safe-haven demand and amid a depreciating U.S. dollar on the foreign exchange market.
The cotton market popped to a 5.5-month high this week on fears that Hurricane Irma will seriously damage the southeastern U.S. cotton crop, as well as worries that Hurricane Harvey damaged the Texas and Louisiana cotton crops. However, the majority of the price move in the cotton market has likely already occurred, even before Irma strikes the U.S. mainland. Remember that futures markets factor in expected events well before they actually play out. Stay tuned!–Jim
