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Enjoy tonight’s video, and enjoy your evening.
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Considering the big gap overnight in the futures, today’s action has turned into one of the most drifting sessions I can remember this summer.
Silver likely needs to get going in order for the rally in silver miners to stick. The SLV ETF has had a decent afternoon. So, I am watching that action this week. Note that quite a few silver miners report earnings this week, though.
Also, we do not look often at the NYSE Composite Index (NYA). But on the daily chart, below, note the confirmed head and shoulders top now checking back to its neckline (a valid h&s top can have an upsloping neckline).
I will discuss similar, important setups to observe this week after the bell on my video market recap.
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Courtesy of @Mashable and via @DynamicHedge on Twitter.
This video shows the trend of electronic cigarettes, or e-cigs, and implies that tobacco firms stand to benefit in the coming years.
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One of the stars of the first half 2008 run-up in commodities and commodity stock was Bunge, which has seen been as quiet as Church mouse.
Recently, though, the farm products firm has shown signs of waking up.
On the monthly chart, below, note the potential for a clean, multi-year base bottom breakout, especially over $84. Much like SQM, I would keep this ag-related play on your radar as a long-term idea.
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Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.
I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.
Members can click here to view and save the screen.
Sorted for at least 500,000 shares of daily average volume to ensure liquidity.
Please click on image to enlarge.
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Crude oil is staging a snapback rally today.
On the USO ETF 30-minute chart, a move over $36.56 appears to be the next level to clear for buyers to sustain a further rally. UCO is the levered long ETF for black gold.
Overall, crude has been sluggish as the summer progressed, and is trying to stage an August relief rally. Keep tight stops in there as bulls are still far from in control on various timeframes.
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