Jim Wyckoff

Dominate Your Market

Daily Morning Report

Markets Digesting U.K. Election Shocker

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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.

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Grain Markets On Verge Of Weather Scare

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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

Markets Pause Ahead of Big Thursday

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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.

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Gold Hits 6-Week High; Big Events Lie Just Ahead

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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.

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Middle East Geopolitics Back in Play

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Monday, June 5–Jim Wyckoff’s Morning Markets Report

OVERNIGHT DEVELOPMENTS

World stock markets were mostly lower Monday, on corrective pullbacks from recent gains that have put many stock indexes at or near record or multi-year highs. U.S. stock indexes are pointed toward slightly lower openings when the New York day session begins.

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Risk-On Attitudes Ahead of U.S. Jobs Report

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Friday, June 2–Jim Wyckoff’s Morning Markets Report

OVERNIGHT DEVELOPMENTS

World stock markets were mostly firmer overnight, following the lead of U.S. stock indexes that hit record highs Thursday. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins. Many world stock markets are also at or near record highs.

Gold prices are lower in pre-U.S. session trading, amid the “risk-on” appetite seen in the world marketplace so far Friday.

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