Financial News

Archive for Financial News – Page 262

Bank forecasts point to a decline in stock indices in the coming weeks

Major US indices fell on Monday as hawkish comments from US Federal Reserve officials tempered investors’ hopes that the central bank would ease its aggressive monetary policy. As the stock market closed yesterday, the Dow Jones Index (US30) decreased by 0.63%, and the S&P 500 Index (US500) fell by 0.89%. The NASDAQ Technology Index (US100) lost 1.12% on Monday.

The US Fed spokeswoman Brainard echoed recent statements from other bank officials that it may be appropriate to move to a slower rate of increase. The market expects the Fed to continue its hawkish rhetoric on rates through March 2023. Traders now expect the Fed to raise interest rates by 0.5% in December and expect the final rate to be in the 4.75%-5.0% range. Then according to bank analysts, rates will be at this level until the end of 2023, after which rates will begin to decline in early 2024. Bank analysts believe that it is during the “pause” period that the stock market will show strong growth.

The midterm elections in the US indicate that the Democrats retain control of the Senate. They now have 50 seats against 49 for Republicans. Democratic leaders in Congress on Sunday promised to tackle the national debt ceiling in the coming weeks, saying their party’s election victory gives them leverage. The US House Speaker Nancy Pelosi and US Senate Majority Leader Chuck Schumer said they would act as long as Democrats control both houses.

Along with raising rates, the Fed continues to reduce the number of bonds on its balance sheet to $95 billion monthly. Since that process (quantitative tightening) began in June, the Fed’s balance sheet has shrunk by more than $235 billion but remains at $8.73 trillion.

Morgan Stanley’s experts forecast the SPY price to fall to 3000-3300 in the coming weeks, and they see the end of the year around 3900, which is where the price is now.

Goldman Sachs predicts a significant decline in inflation in the US next year. Analysts at the bank expect the core PCE to fall to 2.9% by December 2023 from the current 5.1%.

Equity markets in Europe traded higher yesterday. Germany’s DAX (DE30) gained 0.62%, France’s CAC 40 (FR40) gained 0.22%, Spain’s IBEX 35 (ES35) jumped by 0.52%, and the British FTSE 100 (UK100) closed up to 0.92% on Monday.

ECB member De Guindos made a speech yesterday and left some important comments:

Monetary policy should focus on reducing demand support;
Inflation expectations are unchanged at the moment;
The ECB will continue to raise interest rates;
Fiscal support measures should be targeted and temporary.

The Eurozone saw surprisingly strong production in the third quarter as easing supply problems contributed to growth. Industrial production rose by 0.9% in September, leading to a quarterly increase of 0.5% in Q3. This was a surprise as businesses reported lower new orders due to lower demand. Thus, analysts still expect a dip in the winter months, as the catch-up effect of production growth is unlikely to last.

The European Commission permitted Berlin to nationalize the former unit of Russian gas monopoly Gazprom, supporting the efforts of Europe’s largest economy to restore order to the energy market.

According to experts, Britain will have dark days at least until mid-2024 as British Chancellor Jeremy Hunt warns that tax hikes will affect everyone and cuts in public spending are inevitable.

Due to China’s worries about COVID and OPEC’s reduced demand forecast, oil prices are down. While investors welcomed China’s announcement last week that it would reduce the impact of a strict zero COVID policy to stimulate economic activity and energy demand, analysts said blockages and rising incidence of the disease remain a key downside risk.

Asian markets traded flat yesterday. Japan’s Nikkei 225 (JP225) decreased by 1.06%, Hong Kong’s Hang Seng (HK50) ended the day up by 1.70%, and Australia’s S&P/AS 200 (AU200) ended the day down by 0.16%.

The Chinese authorities are doing their best to put an end to the crisis in the country’s huge real estate sector, which has hit the economy hard in the past year. Key measures include allowing banks to make payday loans to developers, supporting real estate sales by reducing down payments, lowering mortgage rates, and encouraging other financing channels such as bond issues and ensuring pre-sold homes are delivered to buyers. In essence, policymakers have told banks to do whatever they can to support the real estate sector. Shares of Chinese developers rose substantially on Monday, boosting the market as a whole.

Japan’s GDP unexpectedly contracted in the third quarter due to soaring inflation and slowing global economic growth. This was the first quarterly decline in over a year. Official data showed that the gross domestic product fell by 1.2% year-over-year.

S&P 500 (F) (US500) 3,957.25 −35.68 (−0.89%)

Dow Jones (US30) 33,536.70 −211.16 (−0.63%)

DAX (DE40) 14,313.30 +88.44 (+0.62%)

FTSE 100 (UK100) 7,385.17 +67.13 (+0.92%)

USD Index 106.86 +0.57 (+1.53%)

Important events for today:

– Japan GDP (q/q) at 01:50 (GMT+2);
– Australia RBA Monetary Policy Meeting Minutes at 02:30 (GMT+2);
– China Industrial Production (m/m) at 04:00 (GMT+2);
– China Retail Sales (m/m) at 04:00 (GMT+2);
– China Unemployment Rate (m/m) at 04:00 (GMT+2);
– Japan Industrial Production (m/m) at 06:30 (GMT+2);
– UK Average Earnings Index (m/m) at 09:00 (GMT+2);
– UK Claimant Count Change (m/m) at 09:00 (GMT+2);
– UK Unemployment Rate (m/m) at 09:00 (GMT+2);
– Eurozone French Consumer Price Index (m/m) at 09:45 (GMT+2);
– Eurozone Spanish Consumer Price Index (m/m) at 10:00 (GMT+2);
– Eurozone German ZEW Economic Sentiment (m/m) at 12:00 (GMT+2);
– Eurozone ZEW Economic Sentiment (m/m) at 12:00 (GMT+2);
– Eurozone GDP (q/q) at 12:00 (GMT+2);
– US Empire State Manufacturing Index (m/m) at 15:30 (GMT+2);
– US Producer Price Index (m/m) at 15:30 (GMT+2);
– G20 Meetings (Day 1).

By JustMarkets

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Economics & Fundamentals Financial News

14 Nov

COT Bonds Speculators raised their Fed Funds & 5-Year Bond bets last week

By InvestMacro

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC). The COT release was delayed due to a Federal Holiday last week.

The latest COT data is updated through Tuesday November 8th and shows a quick view of how large traders (for-profit speculators and commercial hedgers) were positioned in the futures markets.

Weekly Speculator Changes led by Fed Funds & 5-Year Bond

The COT bond market speculator bets were higher last week as six out of the eight bond markets we cover had higher positioning this week while two markets had lower contracts.

Leading the weekly gains for the bond markets was the Fed Funds (39,189 contracts) and the 5-Year Bond (37,532 contracts) with the 10-Year Bond (15,257 contracts), the Ultra 10-Year (6,903 contracts), the Ultra US Bond (5,993 contracts) and the Long US Bond (4,580 contracts) also showing a positive week.

The bond markets leading the weekly declines in speculator bets this week was the Eurodollar (-161,954 contracts) with the 2-Year Bond (-45,488 contracts) also registering lower bets on the week.

Data Snapshot of Bond Market Traders | Columns Legend

Nov-08-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
Eurodollar	7,973,351	1	-2,112,650	14	2,359,932	83	-247,282	50
FedFunds	1,490,683	42	22,184	42	-14,210	58	-7,974	39
2-Year	2,205,573	19	-483,273	0	505,582	100	-22,309	42
Long T-Bond	1,207,905	44	-90,725	55	58,256	31	32,469	78
10-Year	4,030,770	67	-283,059	29	349,824	63	-66,765	64
5-Year	4,281,320	67	-499,455	10	612,346	88	-112,891	50

US Treasury Bond led the Strength Scores

Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that the US Treasury Bond (55.1 percent) led the bonds category.

On the downside, the 2-Year Bond (0.0 percent), Ultra 10-Year Bond (8.9 percent), 5-Year Bond (10.0 percent) and the Eurodollar (14.2 percent) came in at the lowest strength levels and were all in an extreme bearish level (below 20 percent).

Strength Statistics:
Fed Funds (42.4 percent) vs Fed Funds previous week (37.5 percent)
2-Year Bond (0.0 percent) vs 2-Year Bond previous week (8.0 percent)
5-Year Bond (10.0 percent) vs 5-Year Bond previous week (4.3 percent)
10-Year Bond (29.4 percent) vs 10-Year Bond previous week (27.1 percent)
Ultra 10-Year Bond (8.9 percent) vs Ultra 10-Year Bond previous week (7.1 percent)
US Treasury Bond (55.1 percent) vs US Treasury Bond previous week (53.6 percent)
Ultra US Treasury Bond (29.3 percent) vs Ultra US Treasury Bond previous week (26.9 percent)
Eurodollar (14.2 percent) vs Eurodollar previous week (17.2 percent)

Strength Trends led by 10-Year Bond last week

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that the 10-Year Bond (12.5 percent) led the past six weeks trends for bonds. The US Treasury Bond (1.9 percent) and the Eurodollar (0.9 percent) were the other positive movers in the latest trends data.

The 2-Year Bond (-28.6 percent) led the downside trend scores while the next market with lower trend scores was the Fed Funds (-9.9 percent) followed by the 5-Year Bond (-8.7 percent).

Strength Trend Statistics:
Fed Funds (-9.9 percent) vs Fed Funds previous week (-5.1 percent)
2-Year Bond (-28.6 percent) vs 2-Year Bond previous week (-16.7 percent)
5-Year Bond (-8.7 percent) vs 5-Year Bond previous week (-6.5 percent)
10-Year Bond (12.5 percent) vs 10-Year Bond previous week (-10.4 percent)
Ultra 10-Year Bond (-4.4 percent) vs Ultra 10-Year Bond previous week (-14.2 percent)
US Treasury Bond (1.9 percent) vs US Treasury Bond previous week (1.4 percent)
Ultra US Treasury Bond (-0.1 percent) vs Ultra US Treasury Bond previous week (-9.1 percent)
Eurodollar (0.9 percent) vs Eurodollar previous week (5.0 percent)

Individual Bond Markets:

3-Month Eurodollars Futures:

The 3-Month Eurodollars large speculator standing this week recorded a net position of -2,112,650 contracts in the data reported through Tuesday. This was a weekly decline of -161,954 contracts from the previous week which had a total of -1,950,696 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 14.2 percent. The commercials are Bullish-Extreme with a score of 83.2 percent and the small traders (not shown in chart) are Bullish with a score of 50.0 percent.

3-Month Eurodollars Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.1	68.6	6.1
– Percent of Open Interest Shorts:	32.6	39.0	9.2
– Net Position:	-2,112,650	2,359,932	-247,282
– Gross Longs:	487,273	5,471,608	485,753
– Gross Shorts:	2,599,923	3,111,676	733,035
– Long to Short Ratio:	0.2 to 1	1.8 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	14.2	83.2	50.0
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	0.9	-1.0	1.8

30-Day Federal Funds Futures:

The 30-Day Federal Funds large speculator standing this week recorded a net position of 22,184 contracts in the data reported through Tuesday. This was a weekly gain of 39,189 contracts from the previous week which had a total of -17,005 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 42.4 percent. The commercials are Bullish with a score of 58.2 percent and the small traders (not shown in chart) are Bearish with a score of 39.3 percent.

30-Day Federal Funds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	11.4	73.0	2.2
– Percent of Open Interest Shorts:	9.9	73.9	2.8
– Net Position:	22,184	-14,210	-7,974
– Gross Longs:	169,743	1,087,836	33,025
– Gross Shorts:	147,559	1,102,046	40,999
– Long to Short Ratio:	1.2 to 1	1.0 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	42.4	58.2	39.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.9	8.8	20.6

2-Year Treasury Note Futures:

The 2-Year Treasury Note large speculator standing this week recorded a net position of -483,273 contracts in the data reported through Tuesday. This was a weekly decrease of -45,488 contracts from the previous week which had a total of -437,785 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 0.0 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish with a score of 42.1 percent.

2-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	8.4	81.2	8.2
– Percent of Open Interest Shorts:	30.3	58.2	9.3
– Net Position:	-483,273	505,582	-22,309
– Gross Longs:	184,479	1,790,012	181,777
– Gross Shorts:	667,752	1,284,430	204,086
– Long to Short Ratio:	0.3 to 1	1.4 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.0	100.0	42.1
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-28.6	13.9	37.2

5-Year Treasury Note Futures:

The 5-Year Treasury Note large speculator standing this week recorded a net position of -499,455 contracts in the data reported through Tuesday. This was a weekly rise of 37,532 contracts from the previous week which had a total of -536,987 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 10.0 percent. The commercials are Bullish-Extreme with a score of 87.9 percent and the small traders (not shown in chart) are Bullish with a score of 50.1 percent.

5-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	7.1	83.8	7.6
– Percent of Open Interest Shorts:	18.8	69.5	10.3
– Net Position:	-499,455	612,346	-112,891
– Gross Longs:	305,068	3,588,425	327,034
– Gross Shorts:	804,523	2,976,079	439,925
– Long to Short Ratio:	0.4 to 1	1.2 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	10.0	87.9	50.1
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-8.7	5.5	3.5

10-Year Treasury Note Futures:

The 10-Year Treasury Note large speculator standing this week recorded a net position of -283,059 contracts in the data reported through Tuesday. This was a weekly boost of 15,257 contracts from the previous week which had a total of -298,316 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 29.4 percent. The commercials are Bullish with a score of 63.4 percent and the small traders (not shown in chart) are Bullish with a score of 64.2 percent.

10-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	12.4	75.6	9.1
– Percent of Open Interest Shorts:	19.4	67.0	10.7
– Net Position:	-283,059	349,824	-66,765
– Gross Longs:	499,430	3,049,134	366,261
– Gross Shorts:	782,489	2,699,310	433,026
– Long to Short Ratio:	0.6 to 1	1.1 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	29.4	63.4	64.2
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	12.5	-7.1	-5.2

Ultra 10-Year Notes Futures:

The Ultra 10-Year Notes large speculator standing this week recorded a net position of -76,528 contracts in the data reported through Tuesday. This was a weekly gain of 6,903 contracts from the previous week which had a total of -83,431 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 8.9 percent. The commercials are Bullish with a score of 79.4 percent and the small traders (not shown in chart) are Bullish with a score of 76.5 percent.

Ultra 10-Year Notes Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	8.5	79.7	10.9
– Percent of Open Interest Shorts:	14.0	68.7	16.4
– Net Position:	-76,528	152,582	-76,054
– Gross Longs:	117,692	1,103,138	151,341
– Gross Shorts:	194,220	950,556	227,395
– Long to Short Ratio:	0.6 to 1	1.2 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	8.9	79.4	76.5
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-4.4	-2.2	16.8

US Treasury Bonds Futures:

The US Treasury Bonds large speculator standing this week recorded a net position of -90,725 contracts in the data reported through Tuesday. This was a weekly boost of 4,580 contracts from the previous week which had a total of -95,305 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 55.1 percent. The commercials are Bearish with a score of 31.4 percent and the small traders (not shown in chart) are Bullish with a score of 78.3 percent.

US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	5.7	78.5	14.8
– Percent of Open Interest Shorts:	13.2	73.7	12.1
– Net Position:	-90,725	58,256	32,469
– Gross Longs:	68,339	948,677	178,648
– Gross Shorts:	159,064	890,421	146,179
– Long to Short Ratio:	0.4 to 1	1.1 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	55.1	31.4	78.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	1.9	-3.6	3.3

Ultra US Treasury Bonds Futures:

The Ultra US Treasury Bonds large speculator standing this week recorded a net position of -382,173 contracts in the data reported through Tuesday. This was a weekly rise of 5,993 contracts from the previous week which had a total of -388,166 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 29.3 percent. The commercials are Bullish with a score of 73.7 percent and the small traders (not shown in chart) are Bullish with a score of 76.2 percent.

Ultra US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.0	81.9	11.9
– Percent of Open Interest Shorts:	32.1	59.5	8.3
– Net Position:	-382,173	328,090	54,083
– Gross Longs:	88,204	1,200,247	175,022
– Gross Shorts:	470,377	872,157	120,939
– Long to Short Ratio:	0.2 to 1	1.4 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	29.3	73.7	76.2
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-0.1	-4.1	6.6

Article By InvestMacro – Receive our weekly COT Newsletter

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting). See CFTC criteria here.

14 Nov

COT Metals Speculators raised their Gold, Silver & Copper bets last week

By InvestMacro

The latest COT data is updated through Tuesday November 8th and shows a quick view of how large traders (for-profit speculators and commercial hedgers) were positioned in the futures markets.

Gold, Silver & Copper led the Weekly Speculator Changes

The COT precious metals speculator bets were higher last week as four out of the five metals markets we cover had higher positioning this week while only one market had lower contracts.

Leading the gains for the precious metals markets was Gold (17,715 contracts) with Silver (11,479 contracts), Copper (10,397 contracts) and Platinum (3,462 contracts) also showing a positive week.

The only metals markets with declines in speculator bets this week was Palladium with a total of -543 contracts lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Nov-08-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,446,658	1	274,790	17	-301,325	83	26,535	43
Gold	488,471	16	82,338	10	-91,144	91	8,806	2
Silver	140,437	13	13,003	28	-22,088	74	9,085	14
Copper	169,929	10	2,913	39	-3,426	64	513	28
Palladium	9,467	17	-2,410	10	2,573	89	-163	32
Platinum	60,301	22	19,449	35	-23,295	67	3,846	20
Natural Gas	982,596	7	-152,308	33	120,222	69	32,086	56
Brent	135,078	1	-22,201	74	18,085	23	4,116	65
Heating Oil	266,730	23	27,958	84	-51,059	17	23,101	78
Soybeans	611,011	8	87,809	40	-60,966	68	-26,843	26
Corn	1,484,427	31	301,554	69	-254,182	36	-47,372	16
Coffee	217,646	25	-4,683	4	1,912	100	2,771	38
Sugar	766,340	14	90,182	44	-122,561	56	32,379	48
Wheat	350,843	27	-17,214	0	23,686	93	-6,472	77

Copper & Platinum lead the Strength Scores

Strength scores (a measure of the 3-Year range of Speculator positions, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that Copper (38.6 percent) and Platinum (35.2 percent) led the metals category last week. Silver (28.4 percent) comes in as the next highest metals market in strength scores.

On the downside, Palladium (9.7 percent) and Gold (10.0 percent) were at the lowest strength levels currently and in extreme bearish levels.

Strength Statistics:
Gold (10.0 percent) vs Gold previous week (4.2 percent)
Silver (28.4 percent) vs Silver previous week (15.8 percent)
Copper (38.6 percent) vs Copper previous week (30.4 percent)
Platinum (35.2 percent) vs Platinum previous week (30.6 percent)
Palladium (9.7 percent) vs Palladium previous week (12.8 percent)

Strength Trends topped by Platinum & Copper

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Platinum (25.9 percent) and Copper (24.4 percent) led the past six weeks trends for metals this week. Silver (13.5 percent) and Gold (10.0 percent) filled out the other positive movers in the latest trends data.

Palladium (-9.3 percent) was the only market with lower trend scores.

Move Statistics:
Gold (10.0 percent) vs Gold previous week (-0.4 percent)
Silver (13.5 percent) vs Silver previous week (3.5 percent)
Copper (24.4 percent) vs Copper previous week (10.2 percent)
Platinum (25.9 percent) vs Platinum previous week (18.3 percent)
Palladium (-9.3 percent) vs Palladium previous week (-4.6 percent)

Individual Markets:

Gold Comex Futures:

The Gold Comex Futures large speculator standing this week totaled a net position of 82,338 contracts in the data reported through Tuesday. This was a weekly advance of 17,715 contracts from the previous week which had a total of 64,623 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 10.0 percent. The commercials are Bullish-Extreme with a score of 91.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 1.6 percent.

Gold Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	45.7	25.8	7.8
– Percent of Open Interest Shorts:	28.8	44.5	6.0
– Net Position:	82,338	-91,144	8,806
– Gross Longs:	223,135	126,187	38,045
– Gross Shorts:	140,797	217,331	29,239
– Long to Short Ratio:	1.6 to 1	0.6 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	10.0	91.0	1.6
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	10.0	-9.0	-3.2

Silver Comex Futures:

The Silver Comex Futures large speculator standing this week totaled a net position of 13,003 contracts in the data reported through Tuesday. This was a weekly boost of 11,479 contracts from the previous week which had a total of 1,524 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 28.4 percent. The commercials are Bullish with a score of 74.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 14.3 percent.

Silver Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	38.2	33.8	16.4
– Percent of Open Interest Shorts:	28.9	49.5	9.9
– Net Position:	13,003	-22,088	9,085
– Gross Longs:	53,651	47,451	23,040
– Gross Shorts:	40,648	69,539	13,955
– Long to Short Ratio:	1.3 to 1	0.7 to 1	1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	28.4	74.4	14.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	13.5	-14.4	14.3

Copper Grade #1 Futures:

The Copper Grade #1 Futures large speculator standing this week totaled a net position of 2,913 contracts in the data reported through Tuesday. This was a weekly rise of 10,397 contracts from the previous week which had a total of -7,484 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 38.6 percent. The commercials are Bullish with a score of 64.4 percent and the small traders (not shown in chart) are Bearish with a score of 28.3 percent.

Copper Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.4	37.3	9.7
– Percent of Open Interest Shorts:	30.7	39.3	9.4
– Net Position:	2,913	-3,426	513
– Gross Longs:	55,028	63,309	16,492
– Gross Shorts:	52,115	66,735	15,979
– Long to Short Ratio:	1.1 to 1	0.9 to 1	1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	38.6	64.4	28.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	24.4	-25.0	9.5

Platinum Futures:

The Platinum Futures large speculator standing this week totaled a net position of 19,449 contracts in the data reported through Tuesday. This was a weekly lift of 3,462 contracts from the previous week which had a total of 15,987 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 35.2 percent. The commercials are Bullish with a score of 66.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.7 percent.

Platinum Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	51.5	30.2	12.4
– Percent of Open Interest Shorts:	19.3	68.8	6.0
– Net Position:	19,449	-23,295	3,846
– Gross Longs:	31,065	18,181	7,456
– Gross Shorts:	11,616	41,476	3,610
– Long to Short Ratio:	2.7 to 1	0.4 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	35.2	66.6	19.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	25.9	-26.2	19.7

Palladium Futures:

The Palladium Futures large speculator standing this week totaled a net position of -2,410 contracts in the data reported through Tuesday. This was a weekly decline of -543 contracts from the previous week which had a total of -1,867 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 9.7 percent. The commercials are Bullish-Extreme with a score of 88.8 percent and the small traders (not shown in chart) are Bearish with a score of 31.9 percent.

Palladium Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	17.6	53.7	13.0
– Percent of Open Interest Shorts:	43.1	26.5	14.7
– Net Position:	-2,410	2,573	-163
– Gross Longs:	1,667	5,085	1,226
– Gross Shorts:	4,077	2,512	1,389
– Long to Short Ratio:	0.4 to 1	2.0 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	9.7	88.8	31.9
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.3	7.7	14.5

Article By InvestMacro – Receive our weekly COT Newsletter

COT Updates Financial News Metals

14 Nov

WTI Crude Oil & Heating Oil led last week’s speculator changes

By InvestMacro

The latest COT data is updated through Tuesday November 8th and shows a quick view of how large traders (for-profit speculators and commercial hedgers) were positioned in the futures markets.

WTI Crude Oil & Heating Oil lead the Weekly Speculator Changes

The COT energy market speculator bets were higher last week as four out of the six energy markets we cover had higher positioning this week while the other two markets had lower contracts.

Leading the gains for energy markets was WTI Crude Oil (19,981 contracts) with Heating Oil (6,578 contracts), Gasoline (5,069 contracts) and Bloomberg Commodity Index (2,608 contracts) also showing positive weeks.

The energy markets leading the declines in speculator bets this week was Natural Gas (-3,655 contracts) with Brent Crude Oil (-293 contracts) also registering lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Nov-08-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,446,658	1	274,790	17	-301,325	83	26,535	43
Gold	488,471	16	82,338	10	-91,144	91	8,806	2
Silver	140,437	13	13,003	28	-22,088	74	9,085	14
Copper	169,929	10	2,913	39	-3,426	64	513	28
Palladium	9,467	17	-2,410	10	2,573	89	-163	32
Platinum	60,301	22	19,449	35	-23,295	67	3,846	20
Natural Gas	982,596	7	-152,308	33	120,222	69	32,086	56
Brent	135,078	1	-22,201	74	18,085	23	4,116	65
Heating Oil	266,730	23	27,958	84	-51,059	17	23,101	78
Soybeans	611,011	8	87,809	40	-60,966	68	-26,843	26
Corn	1,484,427	31	301,554	69	-254,182	36	-47,372	16
Coffee	217,646	25	-4,683	4	1,912	100	2,771	38
Sugar	766,340	14	90,182	44	-122,561	56	32,379	48
Wheat	350,843	27	-17,214	0	23,686	93	-6,472	77

Bloomberg Commodity Index & Heating Oil lead the Strength Scores

Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that the Bloomberg Commodity Index (94.3 percent) and Heating Oil (83.6 percent) lead the energy category and are both in bullish extreme positions (above 80 percent). Brent Crude Oil (74.0 percent) comes in as the next highest energy market in strength scores.

On the downside, WTI Crude Oil (16.9 percent) comes in at the lowest strength level currently and is followed by Gasoline (20.8 percent).

Strength Statistics:
WTI Crude Oil (16.9 percent) vs WTI Crude Oil previous week (11.7 percent)
Brent Crude Oil (74.0 percent) vs Brent Crude Oil previous week (74.5 percent)
Natural Gas (32.9 percent) vs Natural Gas previous week (33.9 percent)
Gasoline (20.8 percent) vs Gasoline previous week (15.7 percent)
Heating Oil (83.6 percent) vs Heating Oil previous week (73.9 percent)
Bloomberg Commodity Index (94.3 percent) vs Bloomberg Commodity Index previous week (84.3 percent)

Brent Crude Oil & Heating Oil top the Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that Brent Crude Oil (32.0 percent) leads the past six weeks trends for energy this week. Heating Oil (24.3 percent), the Bloomberg Commodity Index (16.0 percent) and WTI Crude Oil (12.9 percent) fill out the next top movers in the latest trends data.

Natural Gas (-0.1 percent) came in as the only market with lower trend scores for last week.

Strength Trend Statistics:
WTI Crude Oil (12.9 percent) vs WTI Crude Oil previous week (3.9 percent)
Brent Crude Oil (32.0 percent) vs Brent Crude Oil previous week (26.9 percent)
Natural Gas (-0.1 percent) vs Natural Gas previous week (2.1 percent)
Gasoline (4.7 percent) vs Gasoline previous week (-3.4 percent)
Heating Oil (24.3 percent) vs Heating Oil previous week (10.7 percent)
Bloomberg Commodity Index (16.0 percent) vs Bloomberg Commodity Index previous week (16.3 percent)

Individual COT Market Charts:

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week was a net position of 274,790 contracts in the data reported through Tuesday. This was a weekly boost of 19,981 contracts from the previous week which had a total of 254,809 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 16.9 percent. The commercials are Bullish-Extreme with a score of 82.9 percent and the small traders (not shown in chart) are Bearish with a score of 43.2 percent.

WTI Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	25.5	38.1	5.4
– Percent of Open Interest Shorts:	6.5	59.0	3.5
– Net Position:	274,790	-301,325	26,535
– Gross Longs:	368,585	551,749	77,784
– Gross Shorts:	93,795	853,074	51,249
– Long to Short Ratio:	3.9 to 1	0.6 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	16.9	82.9	43.2
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	12.9	-14.7	9.7

Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week was a net position of -22,201 contracts in the data reported through Tuesday. This was a weekly fall of -293 contracts from the previous week which had a total of -21,908 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 74.0 percent. The commercials are Bearish with a score of 23.4 percent and the small traders (not shown in chart) are Bullish with a score of 64.9 percent.

Brent Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.1	44.3	6.8
– Percent of Open Interest Shorts:	39.5	30.9	3.7
– Net Position:	-22,201	18,085	4,116
– Gross Longs:	31,215	59,785	9,133
– Gross Shorts:	53,416	41,700	5,017
– Long to Short Ratio:	0.6 to 1	1.4 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	74.0	23.4	64.9
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	32.0	-37.2	45.3

Natural Gas Futures:

The Natural Gas Futures large speculator standing this week was a net position of -152,308 contracts in the data reported through Tuesday. This was a weekly reduction of -3,655 contracts from the previous week which had a total of -148,653 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 32.9 percent. The commercials are Bullish with a score of 68.8 percent and the small traders (not shown in chart) are Bullish with a score of 56.1 percent.

Natural Gas Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	13.6	45.6	6.9
– Percent of Open Interest Shorts:	29.1	33.4	3.6
– Net Position:	-152,308	120,222	32,086
– Gross Longs:	133,199	448,264	67,376
– Gross Shorts:	285,507	328,042	35,290
– Long to Short Ratio:	0.5 to 1	1.4 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	32.9	68.8	56.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-0.1	-0.3	2.6

Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week was a net position of 48,753 contracts in the data reported through Tuesday. This was a weekly rise of 5,069 contracts from the previous week which had a total of 43,684 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 20.8 percent. The commercials are Bullish with a score of 74.5 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 82.5 percent.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	33.6	45.0	9.0
– Percent of Open Interest Shorts:	13.9	68.9	4.8
– Net Position:	48,753	-59,226	10,473
– Gross Longs:	83,270	111,348	22,245
– Gross Shorts:	34,517	170,574	11,772
– Long to Short Ratio:	2.4 to 1	0.7 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	20.8	74.5	82.5
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.7	-11.8	50.8

#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week was a net position of 27,958 contracts in the data reported through Tuesday. This was a weekly gain of 6,578 contracts from the previous week which had a total of 21,380 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 83.6 percent. The commercials are Bearish-Extreme with a score of 16.9 percent and the small traders (not shown in chart) are Bullish with a score of 78.4 percent.

Heating Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	17.6	41.5	17.8
– Percent of Open Interest Shorts:	7.1	60.7	9.1
– Net Position:	27,958	-51,059	23,101
– Gross Longs:	46,818	110,820	47,495
– Gross Shorts:	18,860	161,879	24,394
– Long to Short Ratio:	2.5 to 1	0.7 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	83.6	16.9	78.4
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	24.3	-31.4	44.7

Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week was a net position of -3,439 contracts in the data reported through Tuesday. This was a weekly boost of 2,608 contracts from the previous week which had a total of -6,047 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 94.3 percent. The commercials are Bearish-Extreme with a score of 15.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 0.0 percent.

Bloomberg Index Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	21.3	75.2	0.6
– Percent of Open Interest Shorts:	27.2	65.2	4.7
– Net Position:	-3,439	5,797	-2,358
– Gross Longs:	12,268	43,434	373
– Gross Shorts:	15,707	37,637	2,731
– Long to Short Ratio:	0.8 to 1	1.2 to 1	0.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	94.3	15.6	0.0
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	16.0	-6.3	-54.6

Article By InvestMacro – Receive our weekly COT Newsletter

COT Updates Energy Financial News

14 Nov

COT Soft Commodities Speculators boosted their Sugar & Cocoa bets last week

By InvestMacro

The latest COT data is updated through Tuesday November 8th and shows a quick view of how large traders (for-profit speculators and commercial hedgers) were positioned in the futures markets.

Sugar & Cocoa led the Weekly Speculator Changes

The COT soft commodities speculator bets were slightly higher last week as six out of the eleven soft commodities markets we cover had higher positioning this week while the other five markets had decreases in contracts.

Leading the gains for soft commodities markets was Sugar (21,089 contracts) with Cocoa (20,189 contracts), Cotton (4,325 contracts), Soybean Oil (2,871 contracts), Soybean Meal (1,726 contracts) and Soybeans (1,287 contracts) also showing positive weeks.

The softs market leading the declines in speculator bets this week was Corn (-39,234 contracts) with Coffee (-6,866 contracts), Live Cattle (-6,037 contracts), Lean Hogs (-4,688 contracts) and Wheat (-1,448 contracts) also registering lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Nov-08-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,446,658	1	274,790	17	-301,325	83	26,535	43
Gold	488,471	16	82,338	10	-91,144	91	8,806	2
Silver	140,437	13	13,003	28	-22,088	74	9,085	14
Copper	169,929	10	2,913	39	-3,426	64	513	28
Palladium	9,467	17	-2,410	10	2,573	89	-163	32
Platinum	60,301	22	19,449	35	-23,295	67	3,846	20
Natural Gas	982,596	7	-152,308	33	120,222	69	32,086	56
Brent	135,078	1	-22,201	74	18,085	23	4,116	65
Heating Oil	266,730	23	27,958	84	-51,059	17	23,101	78
Soybeans	611,011	8	87,809	40	-60,966	68	-26,843	26
Corn	1,484,427	31	301,554	69	-254,182	36	-47,372	16
Coffee	217,646	25	-4,683	4	1,912	100	2,771	38
Sugar	766,340	14	90,182	44	-122,561	56	32,379	48
Wheat	350,843	27	-17,214	0	23,686	93	-6,472	77

Strength Scores led by Soybean Meal

Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that Soybean Meal (95.0 percent) continues to lead the soft commodity markets in a bullish extreme position (above 80 percent). Soybean Oil (71.7 percent) comes in as the next highest soft commodity markets in strength scores followed by Corn (68.6 percent).

On the downside, Wheat (0.0 percent) and Coffee (3.6 percent) come in at the lowest strength levels currently and are in bearish extreme levels at the moment (below 20 percent).

Strength Statistics:
Corn (68.6 percent) vs Corn previous week (73.6 percent)
Sugar (44.3 percent) vs Sugar previous week (38.9 percent)
Coffee (3.6 percent) vs Coffee previous week (12.4 percent)
Soybeans (40.3 percent) vs Soybeans previous week (39.9 percent)
Soybean Oil (71.7 percent) vs Soybean Oil previous week (69.7 percent)
Soybean Meal (95.0 percent) vs Soybean Meal previous week (94.0 percent)
Live Cattle (51.4 percent) vs Live Cattle previous week (58.9 percent)
Lean Hogs (51.3 percent) vs Lean Hogs previous week (56.4 percent)
Cotton (26.5 percent) vs Cotton previous week (23.3 percent)
Cocoa (28.7 percent) vs Cocoa previous week (8.7 percent)
Wheat (0.0 percent) vs Wheat previous week (1.8 percent)

Soybean Oil tops the Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that Soybean Oil (31.0 percent) leads the past six weeks trends for soft commodity markets this week. Cocoa (21.5 percent) and Sugar (10.6 percent) are the next top movers in the latest trends data.

Coffee (-63.1 percent) leads the downside trend scores currently while the next market with lower trend scores was Wheat (-25.1 percent) followed by Cotton (-15.8 percent).

Strength Trend Statistics:
Corn (0.6 percent) vs Corn previous week (4.5 percent)
Sugar (10.6 percent) vs Sugar previous week (8.1 percent)
Coffee (-63.1 percent) vs Coffee previous week (-49.7 percent)
Soybeans (2.4 percent) vs Soybeans previous week (0.5 percent)
Soybean Oil (31.0 percent) vs Soybean Oil previous week (27.3 percent)
Soybean Meal (3.4 percent) vs Soybean Meal previous week (-3.9 percent)
Live Cattle (-4.4 percent) vs Live Cattle previous week (-8.7 percent)
Lean Hogs (1.3 percent) vs Lean Hogs previous week (-5.0 percent)
Cotton (-15.8 percent) vs Cotton previous week (-20.3 percent)
Cocoa (21.5 percent) vs Cocoa previous week (-2.3 percent)
Wheat (-25.1 percent) vs Wheat previous week (-14.8 percent)

Individual Soft Commodities Markets:

CORN Futures:

The CORN large speculator standing this week reached a net position of 301,554 contracts in the data reported through Tuesday. This was a weekly reduction of -39,234 contracts from the previous week which had a total of 340,788 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 68.6 percent. The commercials are Bearish with a score of 35.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 15.9 percent.

CORN Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.5	44.3	9.0
– Percent of Open Interest Shorts:	9.2	61.4	12.1
– Net Position:	301,554	-254,182	-47,372
– Gross Longs:	437,467	657,281	132,893
– Gross Shorts:	135,913	911,463	180,265
– Long to Short Ratio:	3.2 to 1	0.7 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	68.6	35.7	15.9
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	0.6	-3.5	11.4

SUGAR Futures:

The SUGAR large speculator standing this week reached a net position of 90,182 contracts in the data reported through Tuesday. This was a weekly increase of 21,089 contracts from the previous week which had a total of 69,093 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 44.3 percent. The commercials are Bullish with a score of 56.0 percent and the small traders (not shown in chart) are Bearish with a score of 47.9 percent.

SUGAR Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	25.4	52.3	10.2
– Percent of Open Interest Shorts:	13.7	68.3	6.0
– Net Position:	90,182	-122,561	32,379
– Gross Longs:	194,931	401,032	78,270
– Gross Shorts:	104,749	523,593	45,891
– Long to Short Ratio:	1.9 to 1	0.8 to 1	1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	44.3	56.0	47.9
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	10.6	-15.6	30.4

COFFEE Futures:

The COFFEE large speculator standing this week reached a net position of -4,683 contracts in the data reported through Tuesday. This was a weekly reduction of -6,866 contracts from the previous week which had a total of 2,183 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 3.6 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish with a score of 38.0 percent.

COFFEE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	19.5	50.2	4.8
– Percent of Open Interest Shorts:	21.7	49.3	3.6
– Net Position:	-4,683	1,912	2,771
– Gross Longs:	42,534	109,195	10,530
– Gross Shorts:	47,217	107,283	7,759
– Long to Short Ratio:	0.9 to 1	1.0 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	3.6	100.0	38.0
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-63.1	62.1	11.0

SOYBEANS Futures:

The SOYBEANS large speculator standing this week reached a net position of 87,809 contracts in the data reported through Tuesday. This was a weekly increase of 1,287 contracts from the previous week which had a total of 86,522 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 40.3 percent. The commercials are Bullish with a score of 67.9 percent and the small traders (not shown in chart) are Bearish with a score of 25.7 percent.

SOYBEANS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.9	51.7	7.3
– Percent of Open Interest Shorts:	10.5	61.6	11.7
– Net Position:	87,809	-60,966	-26,843
– Gross Longs:	152,137	315,696	44,579
– Gross Shorts:	64,328	376,662	71,422
– Long to Short Ratio:	2.4 to 1	0.8 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	40.3	67.9	25.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	2.4	-3.3	5.1

SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week reached a net position of 99,981 contracts in the data reported through Tuesday. This was a weekly rise of 2,871 contracts from the previous week which had a total of 97,110 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 71.7 percent. The commercials are Bearish with a score of 29.3 percent and the small traders (not shown in chart) are Bullish with a score of 61.3 percent.

SOYBEAN OIL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.8	43.0	8.6
– Percent of Open Interest Shorts:	7.5	68.2	5.7
– Net Position:	99,981	-112,802	12,821
– Gross Longs:	133,543	192,512	38,438
– Gross Shorts:	33,562	305,314	25,617
– Long to Short Ratio:	4.0 to 1	0.6 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	71.7	29.3	61.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	31.0	-32.5	25.5

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week reached a net position of 121,234 contracts in the data reported through Tuesday. This was a weekly rise of 1,726 contracts from the previous week which had a total of 119,508 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 95.0 percent. The commercials are Bearish-Extreme with a score of 6.2 percent and the small traders (not shown in chart) are Bullish with a score of 69.4 percent.

SOYBEAN MEAL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	33.7	37.5	12.8
– Percent of Open Interest Shorts:	4.1	73.5	6.4
– Net Position:	121,234	-147,596	26,362
– Gross Longs:	138,146	153,972	52,532
– Gross Shorts:	16,912	301,568	26,170
– Long to Short Ratio:	8.2 to 1	0.5 to 1	2.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	95.0	6.2	69.4
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	3.4	-4.8	15.8

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week reached a net position of 57,429 contracts in the data reported through Tuesday. This was a weekly fall of -6,037 contracts from the previous week which had a total of 63,466 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 51.4 percent. The commercials are Bearish with a score of 34.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 98.6 percent.

LIVE CATTLE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	37.1	31.2	11.6
– Percent of Open Interest Shorts:	17.4	51.0	11.5
– Net Position:	57,429	-57,915	486
– Gross Longs:	108,040	90,893	33,924
– Gross Shorts:	50,611	148,808	33,438
– Long to Short Ratio:	2.1 to 1	0.6 to 1	1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	51.4	34.0	98.6
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-4.4	0.6	12.8

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week reached a net position of 40,862 contracts in the data reported through Tuesday. This was a weekly decrease of -4,688 contracts from the previous week which had a total of 45,550 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 51.3 percent. The commercials are Bullish with a score of 56.5 percent and the small traders (not shown in chart) are Bearish with a score of 46.6 percent.

LEAN HOGS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	40.5	34.1	8.8
– Percent of Open Interest Shorts:	18.9	50.6	13.9
– Net Position:	40,862	-31,247	-9,615
– Gross Longs:	76,465	64,349	16,565
– Gross Shorts:	35,603	95,596	26,180
– Long to Short Ratio:	2.1 to 1	0.7 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	51.3	56.5	46.6
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	1.3	0.4	-8.2

COTTON Futures:

The COTTON large speculator standing this week reached a net position of 20,477 contracts in the data reported through Tuesday. This was a weekly advance of 4,325 contracts from the previous week which had a total of 16,152 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 26.5 percent. The commercials are Bullish with a score of 75.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 16.7 percent.

COTTON Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	28.4	48.5	5.9
– Percent of Open Interest Shorts:	19.7	57.7	5.5
– Net Position:	20,477	-21,461	984
– Gross Longs:	66,804	114,001	13,817
– Gross Shorts:	46,327	135,462	12,833
– Long to Short Ratio:	1.4 to 1	0.8 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	26.5	75.1	16.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-15.8	15.2	-6.2

COCOA Futures:

The COCOA large speculator standing this week reached a net position of 11,948 contracts in the data reported through Tuesday. This was a weekly lift of 20,189 contracts from the previous week which had a total of -8,241 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 28.7 percent. The commercials are Bullish with a score of 72.3 percent and the small traders (not shown in chart) are Bearish with a score of 30.1 percent.

COCOA Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.8	46.2	4.4
– Percent of Open Interest Shorts:	28.6	51.6	3.2
– Net Position:	11,948	-15,306	3,358
– Gross Longs:	92,594	130,491	12,348
– Gross Shorts:	80,646	145,797	8,990
– Long to Short Ratio:	1.1 to 1	0.9 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	28.7	72.3	30.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	21.5	-20.8	-7.4

WHEAT Futures:

The WHEAT large speculator standing this week reached a net position of -17,214 contracts in the data reported through Tuesday. This was a weekly decrease of -1,448 contracts from the previous week which had a total of -15,766 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 0.0 percent. The commercials are Bullish-Extreme with a score of 93.4 percent and the small traders (not shown in chart) are Bullish with a score of 76.8 percent.

WHEAT Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	26.8	38.7	8.8
– Percent of Open Interest Shorts:	31.7	31.9	10.7
– Net Position:	-17,214	23,686	-6,472
– Gross Longs:	94,154	135,610	30,937
– Gross Shorts:	111,368	111,924	37,409
– Long to Short Ratio:	0.8 to 1	1.2 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.0	93.4	76.8
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-25.1	27.0	4.9

Article By InvestMacro – Receive our weekly COT Newsletter

COT Updates Financial News Soft Commodities

14 Nov

Communications Co. Continues To Grow Revenue

Source: Streetwise Reports (11/10/22)

Printing and marketing services company Data Communications Management Corp. continues to report impressive numbers with its third-quarter revenue.

Printing and marketing services company Data Communications Management Corp. (DCM:TSX; DCMDF:OTCQX) announced that its revenue for the third quarter of 2022 was up 11.4% or CA$6.5 million YOY.

The company’s stock has been “nudging higher toward an upside breakout,” technical analyst Clive Maund of CliveMaund.com wrote.

Its gross profit was up 15.8%, its net income rose 175.8%, and EDITDA rose 25.7% over that time, the company said.

Over the nine months that ended Sept. 30, revenue was up 15.1%, gross profit was up 17.1%, net income was up 201%, and EDITDA was up 34.2% compared to 2021.

The company’s stock has been “nudging higher toward an upside breakout,” technical analyst Clive Maund of CliveMaund.com wrote.

“With volume indicators overall positive, momentum-swinging positive again, and moving averages in quite strongly bullish alignment, it is in a position to break into another upleg imminently,” he wrote shortly before its stock went up CA$0.04 this week.

Debt was also lowered by 26.2% or CA$8.9 million to CA$25.1 million, the company said.

The Catalyst

This is not the first time the company has reported impressive growth. It continues to gain momentum after COVID and posted a 23.4% increase in revenue for the second quarter of 2022 compared to Q2 2021, results which analyst Noel Atkinson of Clarus Securities called “monster.”

“DCM achieved a spectacular quarter, driven by strong customer demand and the ability to start passing through some input cost increases to clients,” he wrote in an August update note.

Atkinson reiterated his Buy rating for the stock then and raised his target from CA$2.50 to CA$3.

“We have now delivered three sequential quarters of year over year growth, bringing our revenue up just over 15%,” DCM President and Chief Executive Officer Richard Kellam said. “This growth has been driven by a combination of expansion revenue with existing clients and new business wins of over CA$30 million through the year.”

The Digital Journey

In 2021, the company launched its digital asset management (DAM) cloud solution, ASMBL, to manage corporate media files and other content. The technology has the potential to become a substantial contributor to DCM’s income as it is deployed to the company’s 2,500 corporate clients.

“We continue to make positive progress on our digital journey,” Kellam said. “Substantially, all our new business wins are tech-enabled, and our digitally enabled subscription service and fees are pacing nicely ahead of last year.”

On the print side, the company also noted that it has reforested nearly 470,000 trees, “offsetting 100% of our clients’ paper use.”

DCM has been in business for 60 years. It helps companies with branding, communications, and logistics and provides customer loyalty programs, data and content management, location-specific marketing, labels and asset tracking, multimedia campaign management, and workflow management. Its clients are in many industries, including financial services, health care, emerging markets, retail, non-profits, energy, hospitality, and transportation.

Ownership, Coverage, and Share Structure

DCM Directors and officers hold 31.1% of the company, and employees own close to 4 percent through an employee share program.

The company is covered by Noel Atkinson of Clarus Securities and Chris Thompson of PI Financial. Newsletter writer Clive Maund also covers the stock. Click “See More Live Data” in the data box above to read more from them.

It has a market cap of CA$62.13 million with 44.06 million shares outstanding, with 27.3 million shares free-floating. It trades in the 52-week range of CA$1.46 and CA$1.01.

Disclosures:

1) Steve Sobek wrote this article for Streetwise Reports LLC. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Data Communications Management Corp. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Financial News Stock Market News

14 Nov

Japanese Candlesticks Analysis 14.11.2022 (XAUUSD, NZDUSD, GBPUSD)

By RoboForex.com

XAUUSD, “Gold vs US Dollar”

At the resistance level, the instrument has formed a Shooting Star reversal pattern. Currently, the pair may go by the signal in a yet another correction wave. The goal of the pullback will be 1745.00. After a test of the support level, gold may bounce off it and continue the uptrend. However, the quotes may grow to 1795.50 skipping the reversal signal altogether.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, at the resistance level, the pair has formed a reversal pattern Shooting Star. Currently, the pair may go by the signal in a descending wave. The goal of the correction will be 0.6010. After a bounce off the support level, the quotes will get a chance to continue the uptrend. However, they may grow to 0.6180 without any pullback.

GBPUSD, “Great Britain Pound vs US Dollar”

On H4, at the resistance level, the pair has formed a Shooting Star reversal pattern. Currently, the pair will go by the signal in a descending wave. The goal of the correction might be the support level of 1.1690. In case the price bounced off it, it will get a chance to continue the uptrend. However, the price may grow to 1.1935 without any correction to the support.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Financial News Forex and Currency News

14 Nov

US Biopharma Co. Is Attractive, Derisked Investment, Analyst Says

Source: Streetwise Reports (11/11/22)

With late-stage drug candidates and major near-term catalysts, undervalued Aldeyra Therapeutics warrants a Buy to Outperform rating and consideration by potential investors, according to various analysts.

For a biopharma with one new drug candidate on the verge of potential approval in the U.S. and a second close behind, Aldeyra Therapeutics Inc.(ALDX:NASDAQ) is currently undervalued and represents an attractive, derisked investment opportunity, experts said.

The Massachusetts-based firm develops treatments for immune-mediated diseases, which regulate entire immunological systems rather than alter a single protein. The therapeutic candidates are designed to optimize numerous pathways while limiting toxicity, and the biopharma is currently advancing three such products.

A Trio of Potential New Therapies

1) Reproxalap: This RASP, or reactive aldehyde species, inhibiting 0.25% ophthalmic solution for dry eye disease is Aldeyra’s lead drug candidate, for which the company is on schedule to file a new drug application (NDA) with the U.S. Food and Drug Administration (FDA) by year-end.

Approval “could lead to a meaningful lift for the shares,” purported Oppenheimer analyst Justin Kim.

In clinical trials, reproxalap was shown to be efficacious and safe. It “demonstrated robust and consistent dry eye disease benefit,” wrote H.C. Wainwright & Co. analyst Matthew Caufield in a July 13 research note. “We view RASP inhibition as presenting a viable novel pathway in addressing current dry eye disease therapeutic limitations.”

Caulfield noted that approved dry eye disease treatments on the market could take months to have an appreciable effect, have inconsistent responses among patients, and can be uncomfortable, often causing patients to stop using them. RASP is different as it is said to provide immediate relief, unlike previous therapies.

“From an FDA perspective, reproxalap is very safe, passes the Schirmer test with high significance, and has a novel mechanism of action in a field with underserved patients. We think that will be enough for approval,” said BTIG’s Thomas Shrader.

Laidlaw & Co. analyst Dr. Yale Jen stated, “Although ALDX could launch reproxalap by themselves, we believe this is a highly desirable product for large pharma companies, especially those that could leverage their existing or start an ophthalmology sales force.”

BTIG’s Thomas Shrader is one of several analysts who remain bullish on reproxalap’s chances of approval for dry eye disease. In a June 8, 2022 research report, he wrote, “From an FDA perspective, reproxalap is very safe, passes the Schirmer test with high significance, and has a novel mechanism of action in a field with underserved patients. We think that will be enough for approval.”

Newsletter writer Clive Maund said, in a November 1st posting, “Action since this candle looks like a tiny bull Flag suggesting renewed advance soon. Buyers here should place a stop below US$5.00.”

Reproxalap is also being evaluated for allergic conjunctivitis and is now in Phase 3.

2) ADX-2191: This intravitreal methotrexate injection is a Phase 2 developmental treatment for retinitis pigmentosa and primary vitreoretinal lymphoma. For the latter, Aldeyra has a pre-NDA meeting scheduled with the FDA this quarter.

Aldeyra intends for ADX-2191 to also prevent proliferative vitreoretinopathy (in Phase 3). Topline Phase 3 GUARD trial results suggest ADX-2191 treatment could be safer and more effective in this indication than compounded methotrexate, wrote Dr. Yale Jen, a Laidlaw & Co. analyst, in an Oct. 6, 2022 research note.

Jen also noted the current clinical package for ADX-2191 in proliferative vitreoretinopathy is “strong” and likely to support an NDA. To delineate the regulatory pathway forward for this, Aldeyra is scheduling a Type C meeting with the FDA for H1/23.

3) ADX-629. This orally administered RASP modulator is in Phase 2 clinical testing for the treatment of four immune-mediated diseases: ethanol toxicity, chronic cough, Sjögren-Larsson Syndrome, and minimal change disease.

Implications of Near-Term Catalysts

Because dry eye disease is a large, currently underserved market, FDA approval of reproxalap as a treatment for it would be a significant development for Aldeyra, BTIG analyst Shrader wrote.

Approval “could lead to a meaningful lift for the shares,” purported analyst Justin Kim in a Sept. 15 research report. His firm Oppenheimer rates Aldeyra Outperform.

Were reproxalap approved, Aldeyra could reach commercialization in 2023.

As for Aldeyra’s shares, they are currently “underexposed and undervalued,” according to Laidlaw‘s Dr. Yale Jen.

With respect to ADX-2191, positive GUARD trial results, and the pre-NDA meeting on primary vitreoretinal lymphoma, Kim noted, “could catalyze a nontrivial revenue opportunity relative to current share levels.”

As for Aldeyra’s shares, they are currently “underexposed and undervalued,” according to analyst Jen. Today Aldeyra’s share price is US$5.32, and it has been trading in the US$5 range since Sept. 20, 2022.

In comparison, Jen’s firm, Laidlaw & Co., has a US$30 per share target price on the biopharma; this represents a significant jump and return on investment from its share price today.

While Aldeyra’s cash position declined in the latest quarter, Jen noted in a November 11 research note that “ALDX ended 3Q22 with ~US$185M cash, enough to support its operations throughout 2023.” In the report, Laidlaw & Co. reiterated its Buy rating and said, “ALDX shares remain underexposed and under-valued.”

Institutions Dominate Ownership

Institutions held 68.43% of Aldeyra’s shares, the Top 3 being Perceptive Advisors LLC (16.98%), The Vanguard Group Inc. (4.18%), and Citadel Advisors LLC (3.97%). The No. 1 mutual fund holder was the Vanguard Total Stock Market Index Fund at 2.74%.

Aldeyra insiders, including Chief Executive Officer Dr. Todd Brady, Chief Development Officer Dr. Stephen Machatha, Chairman of the Board Dr. Richard Douglas, and several directors, together owned 2.36% of the company’s shares.

The Aldeyra investment opportunity is one that numerous biotech research analysts view favorably. As of them, Kim wrote, “Aldeyra’s late-stage ophthalmology pipeline in allergic conjunctivitis and dry eye diseases offers a favorable risk-reward to current share levels, coupled with long-term pipeline optionality from ADX-2191 in proliferative vitreoretinopathy and systemic RASP applications.”

Coverage and Share Structure

Aldeyra is followed by numerous analysts, including Wainwright & Co. analyst Matthew Caufield, BTIG’s Thomas Shrader, Dr. Yale Jen of Laidlaw & Co., and Justin Kim of Oppenheimer. Newsletter writer Clive Maund also follows the stock. Click “See More Live Data” in the data box above to read their reports.

Aldeyra Therapeutics’ market cap is US$320.78M. The company has 58.32 million shares outstanding, and it trades in a 52-week range of US$2.36 and US$9.06.

Disclosures:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with None. Please click here for more information.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

Financial News Healthcare Stock Market News

14 Nov

The cryptocurrency market digest (BTC). Overview for 14.11.2022

By RoboForex.com

On Monday, the BTC is balancing near 16,746 USD. The morning session was much more complicated than expected, with a noticeable decline and sales.

Losses of the BTC over the week exceeded 20%. The crucial reason for the sales, as you remember, is the story with Binance and FXT.

At the market, they are actively discussing the version that the tweets and publications against FXT were not without a purpose. Binance washed off the rival virtually overnight. We will see what regulators will do. However, trust to crypto has dropped noticeably. The market swiftly recalled the story with Terra and Luna, which was a costly and painful experience.

The range of strong supports for the BTC has moved to 15,550-18,200 USD. Risks of falling to 12,000-12,500 USD are growing too fast.

Capitalisation of the crypto market is now estimated as 840.77 billion USD, the BTC taking up 38.3% and the ETH – 18.3%.

Withdrawal of the BTC was the largest – Glassnode

Glassnode watchers say that with all the volatility, withdrawal of the BTC from crypto exchanges turned out almost at the all-time peak of 106,000 BTC a month. The leading crypto has already faced a similar situations three times.

UAE schools will teach the basics of blockchain and the metaverse

Educational institutions at the UAE are introducing new lessons on blockchain, the metaverse, and cryptocurrencies. They say that the virtual reality is developing fast, so these new lessons will prepare schoolchildren for the labour market of the future.

Article By RoboForex.com

Cryptocurrencies Financial News

14 Nov

The Analytical Overview of the Main Currency Pairs on 2022.11.14

By JustMarkets

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.0202
Prev Close: 1.0353
% chg. over the last day: +1.48 %

Dollar weakness on Friday continued Thursday’s move after US Consumer Inflation fell to an annualized 7.7% in October, the lowest since the beginning of the year. This strengthens the argument that the Federal Reserve will reduce the pace of interest rate hikes. But reducing the rate of increase is not “easing,” with the difference in interest rates between the ECB and the US Fed remaining substantial. According to analysts, the technical correction is coming to an end, and the dollar will once again find a new buying interest soon.

Trading recommendations

Support levels: 1.0194, 1.0092, 1.0043, 0.9993, 0.9838, 0.9794, 0.9755
Resistance levels: 1.0363, 1.0411, 1.0504

From the technical point of view, the trend on the EUR/USD currency pair on the hourly time frame is bullish. The price is trading above the moving averages, and the MACD indicator is in the positive zone, but the price has deviated strongly from the averages. For buy deals, it is best to wait for a corrective movement to the support levels of 1.0194 or 1.0092, but with additional confirmation. Sell deals can be considered from the resistance level of 1.0363, but it’s better with confirmation in the form of a reverse initiative.

Alternative scenario: if the price breaks down through the support level of 0.9993 and fixes below it, the downtrend will likely resume.

News feed for 2022.11.14:

– Eurozone Industrial Production (m/m) at 12:00 (GMT+2);
– US FOMC Member Brainard Speaks at 18:30 (GMT+2).

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.1704
Prev Close: 1.1832
% chg. over the last day: +1.01 %

UK GDP fell sharply by 0.6% in the third quarter (against expectations of 0.1%). Analysts predict that this is the beginning of a recession for the UK and expect GDP to fall 2% by summer 2023. However, much depends on how the government’s energy support develops during this period. As winter approaches, analysts expect tensions between the manufacturing, construction, and industrial sectors to increase. But much will depend on Thursday’s budget announcement this week. The focus will be on how the chancellor closes the projected budget deficit in 2026/27 and how the government will make its energy support more targeted to make policy less costly.

Trading recommendations

Support levels: 1.1684, 1.1476, 1.1418, 1.1231, 1.1172, 1.1093, 1.0915, 1.0817
Resistance levels: 1.1848, 1.1901

From the technical point of view, the GBP/USD currency pair trend on the hourly time frame is bullish. The price is trading above the moving averages. The MACD indicator is in the positive zone, but the first signs of divergence have appeared. Under such market conditions, it is better to look for buy deals after a slight correction to the support levels of 1.1684 or 1.1476. It is best to look for sell deals from the resistance level of 1.1848, but better with a confirmation in the form of a reverse initiative.

Alternative scenario: if the price breaks down from the 1.1418 support level and fixes below it, the downtrend will likely resume.

There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 140.96
Prev Close: 138.76
% chg. over the last day: -1.58 %

The Bank of Japan should revise its inflation target and gradually abandon negative rates and radical yield restriction policies to reduce the rising cost of prolonged monetary policy easing, said Yuri Okina, a key government commissioner and possible future BOJ governor. Mrs. Okina also added that the Bank of Japan should steer a course toward policy normalization over the long term. With Consumer Prices forecast to rise later this week, the Bank of Japan is getting closer to abandoning its soft monetary policy. But the situation will likely remain the same until the end of the year.

Trading recommendations

Support levels: 138.78, 137.65, 136.80
Resistance levels: 138.78, 137.65, 136.80

From the technical point of view, the medium-term trend on the currency pair USD/JPY is bearish. The price is trading below the moving averages. The MACD indicator is deeply negative, and there are signs of overselling and divergence, which shows the weakness of sellers. Under such market conditions, buy trades can be sought on intraday time frames from the support level of 138.78, but only with a confirmation in the form of a false breakdown. Sell deals can be searched from the resistance level of 140.55, but only with additional confirmation.

Alternative scenario: If the price fixes above 146.06, the uptrend will likely resume.

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The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.3320
Prev Close: 1.3252
% chg. over the last day: -0.51 %

The Canadian dollar is a commodity currency and depends on factors such as the monetary policy of the Bank of Canada, the performance of the dollar index, and the oil price movement. Oil prices rose nearly 1% on Monday, continuing Friday’s gains as China eased some of its strict COVID-19 restrictions, raising hopes for a rebound in economic activity and demand from the world’s largest oil importer. Rising oil prices tend to strengthen the Canadian currency.

Trading recommendations

Support levels: 1.3212
Resistance levels: 1.3369, 1.3508, 1.3608, 1.3682, 1.3776, 1.3855, 1.3968

From the point of view of technical analysis, the trend on the USD/CAD currency pair is bearish. The MACD indicator is in the negative zone, but there is a divergence, and the price is in front of the support level. The best way to sell is to consider the resistance level of 1.3369. Still, there is a lot of space before this level, so buy trades are very appropriate and should be considered on the lower time frames from the support level of 1.3212, but with an additional confirmation in the form of a reverse initiative.

Alternative scenario: if the price breaks out and consolidates above the resistance level of 1.3607, the uptrend will likely resume.

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By JustMarkets

Financial News Forex and Currency News

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