Dominate Your Market
Tuesday, June 20–Jim Wyckoff’s Morning Markets Report
OVERNIGHT DEVELOPMENTS
World stock markets were mostly higher overnight. However, slumping crude oil prices are limiting the upside for the global bourses. U.S. stock indexes are pointed toward firmer openings when the New York day session begins.
Tuesday, June 13–Jim Wyckoff’s Morning Markets Report
OVERNIGHT DEVELOPMENTS
World stock markets were mostly firmer overnight, as the recent selling pressure in technology stocks abated. The U.S. Nasdaq stock index is now showing early technical clues of topping out. U.S. stock indexes are pointed toward firmer openings when the New York day session begins.
Gold prices are lower again in early U.S. trading. Bulls have faded just recently as a four-week-old uptrend has been negated.
Friday, June 9–Jim Wyckoff’s Morning Markets Report
OVERNIGHT DEVELOPMENTS
The feature in the marketplace late this week is the stunning setback for the U.K. ruling Conservative party and Prime Minister Theresa May. Her “snap election” loss of party seats in government has created a “hung Parliament,” which puts May’s fast-track Brexit approach in serious jeopardy, and weakens May, herself. The British pound dropped sharply on the election news and the U.S. dollar index rallied. However, European stock markets were higher on the news.
Gold prices did not rally on the surprise U.K. election results, but instead was pressured by the late-week rally in the U.S. dollar.
The corn market has seen bullish price action this week. It appears the first significant weather market of the season is unfolding. More gains in the corn market this week would suggest solid upside price potential in the corn market in the coming weeks. And if corn bulls get uncorked, soybean and wheat bulls won’t be far behind. Stay tuned!–Jim
Wednesday, June 7–Jim Wyckoff’s Morning Markets Report
OVERNIGHT DEVELOPMENTS
World stock markets were mostly steady to firmer overnight. U.S. stock indexes are also pointed toward slightly higher openings when the New York day session begins.
Gold prices are moderately lower in pre-U.S.-session trading, on a downside correction after good gains on Tuesday pushed prices to a seven-week high.
Tuesday, June 6–Jim Wyckoff’s Morning Markets Report
OVERNIGHT DEVELOPMENTS
World stock markets were mostly weaker overnight and U.S. stock indexes are also pointed toward slightly lower openings when the New York day session begins. There is a bit of risk aversion in the marketplace early this week, ahead of key events later this week. Also, with many stock indexes around the world at or near record or multi-year highs, there is some normal profit-taking occurring.