Commodities Countdown

Commodities Struggle 2018-08-20 Video


While the Commodity markets were deeply oversold, the USD hit a 70 RSI on both Daily and Weekly charts. Perhaps this will spur a small bounce.

The overall markets are aligning very defensively as the $SPX tests prior highs. While it means some sectors are still working, other former leaders are struggling. The Perf Chart below is for the last 22 days relative to the $SPX.

Due to some technical problems within my computer, I am unable to annotate charts to go along with the video this week. So here is the video I recorded on Monday August 20th.

This Commodities Countdown video discusses the US Dollar, Oil, Gold and an update on Marijuana.

The Final Bar.

If you are missing intermarket signals in the market, follow me on Twitter and check out my Vimeo Channel often. Bookmark it for easy access!

Good trading,
Greg Schnell, CMT, MFTA
Senior Technical Analyst,
Author, Stock Charts for Dummies

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Want to read more from Greg? Be sure to follow his two StockCharts blogs:
Commodities Countdown and The Canadian Technician

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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