The CRB TrendTrader report is Long the Stock Indices accross the board.
See full position report below.
Remember - day traders work for the markets - Trend Traders let the markets work for them, the Trend is your friend!
The CRB Futures Market Service is one of the oldest and most respected market letters in the industry since 1934.
U.S. Stock Market
June S&Ps this morning are trading up +0.30 of a point. The US stock market yesterday consolidated its recent rally and finished mixed (Dow Jones +0.42%, S&P 500 -0.03%, Nasdaq Composite +0.09%). The Dow Jones rallied to a 17-1/2 month high. Bullish factors for stocks included (1) slack inflation pressures after the Feb CPI rose less than expected and as the year-over-year increase in core CPI was the smallest in 6 years (CPI unchanged m/m and +2.1% y/y versus expectations of +0.1% m/m and +2.3% y/y and core CPI +1.3% y/y versus expectations of +1.4% y/y), (2) the +0.1 rise in Feb leading indicators, their 11th consecutive monthly increase, (3) the larger-than-expected increase in the Mar Philadelphia Fed manufacturing index (+1.3 to 18.9 versus expectations of +0.4 to 18.0), (4) comments from the CEO of FedEx, who after reporting that his company's quarterly profit more than doubled, said there will be "solid GDP growth" in the US in the near term led by gains in inven tory restocking and manufacturing, which signals that the economic expansion may continue as FedEx along with rival UPS are bellwethers for the global economy because they deliver goods throughout the world ranging from electronics to clothing, and (5) the action by Barclays Capital to lift its 2010 earnings estimate for the S&P 500 to $71 a share from $66 a share, along with its hike in its US GDP estimate for 2010 to 3.6% from 3.5%.
Bearish factors for stocks included (1) carry-over weakness from a drop in European stocks on concern that Greece will fail to secure financial assistance from the European Union, (2) weakness in financial stocks after a rumor circulated that the Fed will soon increase the discount rate for the second time in a month, and (3) the drop in energy and raw-material producers after the stronger dollar prompted a sell-off in most commodities.
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About CRB
The Commodity Research Bureau has been leading the world in commodities research and analysis since 1934. Based in Chicago, Illinois, the firm has been the innovator of the CRB Indices, as well as the publisher of the CRB Yearbook, Encyclopedia, CRB Price Charts, TrendTrader and Futures Market Service newsletters.
About CRB TrendTrader
In 1963, the Commodity Research Bureau developed a computerized trading system for the purpose of removing the emotional human element from market forecasting. Since then, countless trading programs, timing theories, and techniques have been designed and popularized by an even wider universe of individuals and companies for the purpose of "beating" the futures market. Yet, today, CRB's TrendTrader remains one of the oldest and most respected technical daily market letters.
TrendTrader system analyzes four different technical studies to categorize markets as trending up, sideways, or down. These four studies are a combination of moving average, price volatility, market momentum, and various time cycles. Support and resistance levels are recalculated daily and serve as "stops" when the market is in a trend phase and mark the breakout levels for new up or down trends when markets are in a sideways mode.
The system is for medium to long-term trading and is designed to maintain positions throughout minor and medium-term corrections. TrendTrader tracks over 79 markets, including foreign exchange (FX), stock indices, interest rates, metals, energies, grains, meats, foods & fibers and exchange traded funds (ETF).
