Yesterday, prices gapped higher at the open (a), and then on declining volume found support at the EMAs where prices jumped higher (b) on rising volume. After rising, prices again found support at the EMAs (c) and rose a bit higher. But prices then started falling, and found resistance rather than support at the EMAs in the afternoon (d, e and f). Finally, notice the increasing volume in the afternoon.
Notice how prices found resistance at key levels from several days ago (a).
The bond market is still in the middle of a strong, 10-day rally (a). Notice the large number of gaps higher (b), usually followed by periods of consolidation (c).
After moving through the 80/bbl area (a), oil fell through the 80 area, with prices now below the EMAs (b). Notice the increased volume on the sell-off (c) and the sell signal from the MACD (d).
Notice how quickly the EMA picture can change. About two weeks ago the EMAs were moving into bullish territory with the shorter EMAs above the longer and the shorter EMAs rising (a). Now the shorter EMAs have crossed below the 50 day EMA indicating a short-term bearish orientation to the market.
Finally, the cattle market is in a clear long-term uptrend (a). Prices have consolidated along the way (c) and are currently approaching six month highs (b). However, there is a question whether or not prices can keep up the momentum (e).
