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Softs Report – Thursday, Sept 12
Photo by Trisha Downing on UnsplashCOTTON General Comments: Cotton was higher yesterday on speculative buying and reports that the weather in southern states will feature a hurricane that could damage crops. There are still ideas of weaker demand potential against an outlook for improved US production in the coming year. Speculators see no reason to buy except to cover short positions as there have been demand concerns about Bangladesh and China and ideas are that production is strong enough. The Delta should have the best looking crops right now even after some very hot weather, but crops in other areas are more suspect. Texas and the Sou... -
Finance 0
The ECB Will Lower Interest Rates Today. The Bank Of Japan May Raise Rates To 1% Within A Year
At Wednesday’s close, the Dow Jones Industrial Average (US30) was up 0.31%, while the S&P 500 Index (US500) added 1.07%. The NASDAQ Technology Index (US100) closed positive at 2.17%. Yesterday, investors weighed in on the latest inflation data and its implications for Federal Reserve policy. The inflation data showed that core prices fell to a three-year low, but core inflation rose 0.3%, which exceeded expectations. That fueled speculation that the Fed would favor a smaller 0.25% interest rate cut at next week’s meeting, with traders downgrading the probability of a 50 basis point rate cut to 13%. On the political front, the presiden... -
Finance 0
Futures Traders Expect 250 Basis Points Of Easing In Next 1 Year – Equities Not Buying It
August’s CPI report dealt a fatal blow to market hopes for a 50-basis-point cut next week. Nevertheless, futures traders are betting that the Fed would lower rates by 250 basis points in the next one year, beginning with 25 basis points next week. If this comes to pass, consensus earnings estimates for next year are destined to massively fall short. August’s year-over-year increase in headline CPI (consumer price index) was the slowest since March 2021. The 2.5-percent annual pace compares with the four-decade high of 9.1 percent which was hit in June 2022.The core, however, is proving a little sticky. In September 2022, it was growing at... -
Finance 0
SP500 & US500 Daily Trade Plan – Thursday, September 12
In this update we review the recent price action in the emini SP500 futures contract and identify a trading plan and price objectives for the trading session ahead.Video Length:: 00:07:17More By This Author:Daily Market Outlook, Thursday, September 12SP500 & US500 Daily Trade Plan – Wednesday, September 11SP500 Daily Trade Plan – Tuesday, September 10... -
Finance 0
USDJPY And Connection With Stocks
In our new video analysis, I will discuss the USD/JPY and why I believe it plays a crucial role in determining the next direction for stocks. Let me remind you that back in July, when USD/JPY sharply turned to the downside, stocks in Japan and globally also topped around the same time. So, once we see a new corrective move on USD/JPY, followed by potential further weakness, it could signal an important timing to watch for potential highs in stocks. However, with major US indexes still not at new all-time highs, this is something we should be cautious about, especially as in 2025.Video Length: 00:08:45More By This Author:Elliott Wave Update: C... -
Finance 0
Deere & Co. Stocks Elliott Wave Technical Analysis
Deere & Co. (DE) Daily ChartDE Elliott Wave Technical AnalysisFUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave 2 of (5) DIRECTION: Upside in 3DETAILS: We are analyzing the potential bottom of a prolonged wave (4), as DE has approached the $400 level. We expect further upward movement to confirm the overall bullish bias. DE Elliott Wave Analysis Trading Lounge 1H Chart,Deere & Co. (DE) 1H ChartDE Elliott Wave Technical AnalysisFUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {i} of 3 DIRECTION: Upside in wave {iii}DETAILS: In this shorter time frame, we are exploring the possibility that wa... -
Finance 0
USD/JPY Analysis: Losses Form Major Support
The USD/JPY exchange rate continued its downtrend ahead of upcoming interest rate decisions from the Bank of Japan and the US Federal Reserve. According to forex market trading, the pair fell to a low of 140.70 on Wednesday morning, its lowest level since January 2, 2024, and about 13% from its highest level this year. It then stabilized higher around the 142.45 resistance level after the announcement of US inflation figures, which helped the US dollar achieve its gains. Bank of Japan DecisionThe USD/JPY continued its downward trend after a Bank of Japan official hinted at further interest rate hikes. In a statement, Junko Nakagawa said tha... -
Finance 0
The ECB And The $1.10 Level In The Euro
The US dollar is narrowly mixed against the G10 currencies. The dollar bloc, Japanese yen, and Swiss franc are sporting slightly softer profiles, while the European currencies enjoy a firmer today. There is more than 3 bln euro in options struck at $1.10 that expire today that still seem to be in play. And there is a large option at GBP1.30 that expires Monday. The ECB’s rate decision and President Lagarde’s press conference are the highlights from the remainder of the session. Meanwhile, the US PPI will help economists finalize forecast for the PCE deflator, and the US Treasury will sell $22 bln of 30-year bonds after strong dema... -
Finance 0
Ethereum Price Stopped The Bullish Trend This Morning Ethereum chart analysis Today’s bearish picture could continue if we do not get back above the EMA 50
Ethereum chart analysisThe price of Ethereum climbed to a new weekly high this morning at the $2397 level. Shortly thereafter, we saw the initiation of a bearish consolidation to the $2320 support level. With this move, we are testing yesterday’s support zone. The price has fallen below the EMA 50 moving average, which further strengthens the bearish pressure. The $2340 level is an important point because if we stay below it, the pullback to the bearish side will follow.Potential lower targets are $2300 and $2280 levels. This week’s Ethereum low price is at $2272. Since Friday, we have been in a growing consolidation, and by falling to ... -
Finance 0
Natural Gas Commodity Elliott Wave Technical Analysis
Natural Gas is currently recovering from its August 2024 low, but technical indicators suggest that the commodity may soon face resistance, continuing the bearish trend from its June 2024 high. This analysis will provide insights from an Elliott Wave perspective, detailing the potential for further downside and the key levels to watch in the coming weeks. Long-Term Chart AnalysisOn the daily chart, Natural Gas has been in a long-term downtrend since reaching a peak near $10 in August 2022. This downtrend is unfolding as a corrective a-b-c pattern of the cycle degree. The first leg of this correction, labeled wave a, completed around the $...
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