This is a sample entry from Drew Rathgeber’s newsletter, The Rath Overlay, published on Friday, May 13, 2016.
In The Markets
Emini S&P – ESM6 (Jun ’16)
This morning sitting on support, looks to be creating a bull flag. However the ‘Rath Overlay’ moving averages are becoming narrower indicating possible weakness.
Gold – GGCM6 (Jun ‘16)
Gold held in the overnight session currently trading $1,275.0 for the June contract. I’m still relatively bullish for the metal complex as long as the US Dollar cooperates.
Soybeans – ZSN6 (Jul ‘16)
Still making new highs – stopped at $10.91bu July contract, see some back n’ fill action possibly back down to $10.40bu.
Crude Oil WTI – GCLM6 (Jun ’16)
Bounced off overhead resistance of $47.00 per barrel for the June contract, look for a countertrend retracement to around the $45.00 area.
T-Bonds – ZBM6 (Jun ’16)
Feels like the Bonds really haven’t gone anywhere this week bouncing around the 165-30 area. T-Bonds still looking for its new upward leg, will this happen next week?
U.S. Dollar – DX-MM6 (Jun ’16)
The US Dollar held around the $94.20-$94.40 for this week. One thing I do see that could be indicative of a pattern change is a ‘doji’ candlestick on May 3rd plus its trading above the downward trend line. However, I’m still leaning bearish for now.
The Week Ahead
- 5/17 – CPI 8:30AM ET
- 5/17 – Housing Starts 8:30AM ET
- 5/18 – EIA Petro Report
- 5/18 – FOMC Minutes 2:00PM ET
- 5/19 – Jobless Claims 8:30AM ET
- 5/19 – EIA Gas Report 10:30AM ET
- 5/20 – Existing Home Sales 10:00AM ET
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