Commodity Prices

Gold •485 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,572.00	-42.30	-2.62%
WTI Crude •11 mins	60.89	+0.32	+0.53%
Gasoline •3 hours	1.975	-0.029	-1.44%
Ethanol •485 days	2.161	+0.000	+0.00%
Silver •485 days	30.82	+1.16	+3.92%

Silver • 485 days	30.82	+1.16	+3.92%
Copper • 485 days	4.530	+0.111	+2.51%
Brent Crude • 3 hours	65.07	+0.07	+0.11%
Natural Gas • 11 mins	4.117	+0.161	+4.07%
Heating Oil • 3 hours	2.427	-0.033	-1.34%

Headlines

869 days Will The ECB Continue To Hike Rates?
870 days Forbes: Aramco Remains Largest Company In The Middle East
871 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,271 days Could Crypto Overtake Traditional Investment?
1,276 days Americans Still Quitting Jobs At Record Pace
1,278 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,281 days Is The Dollar Too Strong?
1,281 days Big Tech Disappoints Investors on Earnings Calls
1,282 days Fear And Celebration On Twitter as Musk Takes The Reins
1,284 days China Is Quietly Trying To Distance Itself From Russia
1,284 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,288 days Crypto Investors Won Big In 2021
1,288 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,289 days Food Prices Are Skyrocketing As Putin’s War Persists
1,291 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,292 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,295 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,296 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,296 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,298 days Are NFTs About To Take Over Gaming?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Is The Bull Market On Its Last Legs?

This aging bull market may…

Chris Ciovacco

Chris Ciovacco is the Chief Investment Officer for Ciovacco Capital Management, LLC.

More Info

Contact Author

The Weak Dollar Gives...The Strong Dollar Takes Away

By Chris Ciovacco - Jun 04, 2009, 12:00 AM CDT

Comments as of Wednesday's close: Risk assets have been benefiting from a weakening U.S. dollar. On Wednesday, the dollar strengthened on concerns about the economy (acting as a safe haven). From a technical perspective the dollar index has some support near 79.05 and 78.98 (today's low was 78.33 - we are at 79.53 now). Last time these areas came into play, a three week countertrend rally followed, which is one reason we have been taking relatively small positions in recent weeks. A multi-week dollar counter-trend move is a possibility - we just need to be aware of it.

Bullish GAPs Still In Play - Support On S&P 500 Holds

06/03/2009: On May 8, 2009, we presented this chart of crude oil (see below). Oil was trading at $58 when we posted the chart. The gap was filled as oil recently traded over $68. Today, similar chart patterns are present in many asset classes. We will illustrate the current situation using SLX (steel stocks).