David Stockman explains why the stock and bond market could be on the verge of a collapse.» Read More
If you've looked a chart of crude oil lately, you might have noticed an odd pattern. The price swings have gotten less and less violent, and the range that crude has traded in has been steadily contracting.
(Read More: Oil Slips Under $110 on Weak Chinese Data)
So why does this matter?
Jeff Kilburg of KKM Financials calls this pattern "coiling," which is just what it sounds like: a sign that the chart is storing up energy which it will soon expend. "When future ranges coil like this," Kilburg explains, "they break out in a violent fashion."
Both industrial production and retail sales in China for the January and February period missed expectations. In addition, inflation rose in February, igniting worries of potential monetary tightening.
(Read More: Tokyo, Sydney Hit Highs; China Slips on Data)
According to experts such as Ara Hovnaian and Ivy Zelman, if you're in the market for a house you'd better get moving.
During interviews on CNBC, both pros suggested that the housing market has so many tailwinds the renaissance is probably unstoppable.
"I think we're in the first or second inning in what's going to be a significant recovery in the market," Hovnanian, CEO of Hovnanian Enterprise, said on CNBC's "Futures Now."
"I'm probably the most bullish fundamentally I've ever been," added Zellman, CEO of Zelman & Associates.
Crude oil's trading range provides a great opportunity.
Crude traded surprisingly well late in the day yesterday, after clearing stops below Wednesday's $90 low.
(Read More: Chavez's Death Not Bullish for Oil: Gartman)
Crude continued to the upside even as the dollar continued higher — likely on speculation of more asset purchases by the Bank of Japan. This did not end of happening, and the non-event actually pulled the dollar back slightly off of the highs, allowed crude to hold against its swing highs and current action at $90.75.
Wall Street traded higher on Thursday, buoyed by data that suggested the jobs market was getting stronger.
The Dow Jones hit an intraday record for the third session in a row, climbing as high as 14,344.95 after initially breaking into uncharted territory on Tuesday.
A strengthening economy and loose monetary policy by central banks around the world have pushed U.S. stocks higher this year. While some expect the market will ease off its current lofty levels, so far dips have been short-lived as investors look for an opportunity to buy.
Market bears however, argue that the stock market is currently overbought and that stocks face serious headwinds such as the impact of the sequester. Skeptics remind that the broader S&P 500sits more than 1 percent below its record close. They say, if anything, now is the time to sell stocks and get defensive.
And that takes us to our Futures Now poll of the day.
Have you looked at a chart of natural gas lately? (There's one below) If so, you may have noticed that last week, it managed to break out of a well-defined downtrend.
So what's behind the strength?
For starters, U.S. natural gas production has fallen for the first time since August, probably due to reduced rig count.
Gold is consolidating, but look for a breakout by week's end.
Gold failed at major resistance yesterday, only putting in a high of $1585.8 before selling off to test support at $1,570. Since then, the market has been able to hold $1,570, but has not been able to get the upwards volatility seen early yesterday.
(Read More: Venezuelan President Hugo Chavez Has Died, VP Says)
So should we get set for market-rocking political tensions that could drive oil prices screaming higher? Perhaps not.
Seabreeze Partners founder Douglas Kass admitted on Tuesday what a growing number of analysts have been forced to acknowledge as Apple's slump deepens: he may have been all wrong.
The tech giant's shares have tumbled by more than 40 percent from its highs above $702 hit last September. Since then, most Apple watchers have clung to the belief the iPhone maker could turn things around.
Yet as all three major averages pushed higher Tuesday, with the Dow Jones Industrial Average shooting up to its highest level ever, Apple's stock has been left in the dust.
Stocks held near session highs Tuesday, with the Dow Jones Industrial Average shooting up to its highest level ever, following an upbeat ISM non-manufacturing index and amid ongoing monetary support from the Federal Reserve.
So far, the Dow is up nearly 9 percent in 2013, surpassing the 7.3 percent gain for all of 2012.
(Read More: Dow Smashes Record: End of the 'Lost Decade'?)
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