Forecasts & Analysis, Page

JPMorgan and Citi beat on the top and bottom lines

Tropical depression 15 emerges

Geopolitics continues to buoy prices

Based on the early price action and the current price at 98.015, the direction of the December U.S. Dollar Index the rest of the session on Tuesday is likely to be determined by trader reaction to the 50% level at 98.135.

Bank earnings came out early on Tuesday, showing signs of strength again, and that of course has the S&P 500 rallying. The financial sector is of course a significant part of the S&P 500, so the rally could have been predicted.

Silver markets went back and forth during the trading session on Tuesday as we simply don’t look like we have anywhere to be right now. That being the case, it’s very likely that sideways action will continue to be a major influence in this market.

Crude oil markets initially fell during the trading session on Tuesday but found enough buyers underneath to bounce back quite nicely, showing signs of resiliency yet again. With this candlestick, and of course the technical analysis, it looks as if crude oil may be trying to make some type of

Natural gas markets look like they are finally starting to perk up again, as the $2.20 level has offered a significant amount of support. With that being the case, it’s very likely that we continue to see buyers come in based upon value.

Gold markets fell a bit during the trading session on Tuesday, to test the lower part of the wedge that has been important for the last several weeks. It’s also the beginning of the major uptrend line, so it does make sense that we started to see buyers jump back

The US dollar pulled back a bit during the trading session on Tuesday, as we continue to press against a major area of resistance in the USD/JPY pair.

The British pound rallied a bit during the trading session on Tuesday, as we continue to see a lot of noise in the market. All things being equal, this is a market that should continue to be very noisy as the headlines will be fast and furious.

The British pound has been consolidating against the Japanese yen during the trading session on Tuesday, as we initially tried to break above the 200 day EMA but rolled over to show signs of weakness again. Ultimately, major decisions need to be made.

The Euro rolled over again during the trading session on Tuesday, showing signs of weakness as the long term trend continues to assert itself, the Euro looks destined to test the lows again.

The Australian dollar initially tried to rally during the trading session on Tuesday but found resistance yet again as we turned around to break down below the 0.6750 level. This is an area that has been crucial more than once, so this looks like more of the same.

BOJ Governor Haruhiko Kuroda said on Tuesday the central bank would not hesitate to take additional easing steps if risks to the economy grow and threaten momentum toward its 2% inflation target.

Gold futures continue to work their way lower after peaking in September. The topping process appears complete, and the next wave of selling could begin any day.

Based on the early price action and the current price at 7915.00, the direction of the December E-mini NASDAQ-100 Index futures contract the rest of the session on Tuesday is likely to be determined by trader reaction to the downtrending Gann angle at 7910.50.

On Tuesday, the Canadian and Mexican dollars are trading sideways. With no key U.S. numbers in the Tuesday session, traders can expect limited movement in the North American session. The British pound has posted slight gains on the day.

Based on the early price action and the current price at 26855, the direction of the December E-mini Dow Jones Industrial Average futures contract the rest of the session on Tuesday is likely to be determined by trader reaction to the uptrending Gann angle at 26727.

Based on the early price action and the current price at 2976.75, the direction of the December E-mini S&P 500 Index the rest of the session on Tuesday is likely to be determined by trader reaction to the resistance cluster at 2981.75 to 2983.00.