Has your favorite coffee beverage gone down in price? (WSJ and FINVIZ)

Historically, coffee prices (ICO Composite Indicator) have been above $1.00/lb though through the 90's a new low was established at $0.41 in 2001 and stayed low through 2004 before accelerating and peaking in 2011.  Today's price hovers above $1.00/lb.

Coffee continues to express all sorts of weakness since peaking in 2011.  Recent news suggests that coffee stores are flush (circa 2009) and prices are not expected to rebound anytime soon.  The crop forecast for Brazil (producing 1/3 global supply) is also good into next harvest (mid-2014).  Expectation by some traders is price will remain depressed until demand recovers, and may hit $100 before there are any substantial improvements in global price.  (WSJ September 2013)

With prices as depressed as they have been, you would think that the price of a cup at your favorite outlet might adjust - though that depends on how much of a cup of coffee is affected by the price of the raw materials - which in many cases is not significant.  The rise in price of energy (i.e., transportation, roasting, etc.) and other factors has likely offset any advantages from lower raw material costs.  Another factor is that companies like Starbuck's negotiates their own coffee supply and prices through private contracts.

Watching and learning.  Trading on.

COFFEE: A global consumer staple?

Presented below are a weekly price charts for Coffee.  And a daily chart of  ICE - SPOT price and JO (Coffee ETF) (Breakpointtrades.com).  Not yet at historical lows, and volume pattern is negative.  Worthy of placing to the Watch List.

FLOORED: Pit Trading and the Advent of The Bots

UPDATED: October 23, 2013 Another look at WTI XOIL

UPDATED: October 23, 2013 > Crude has expressed considerable weakness and has broken through previous resistance > next resistance at $93-94/bbl - watching and learning.

I have been part of conversations in the last couple of months where the price of oil has been the topic.  In Calgary, this is a very important topic.  Regardless of all efforts to 'diversify' the economy, the energy business is king.  And when the king falters or advances, so does Calgary's momentum.  I posted previously on a compressing triangle in the long term price of Crude (HERE).  That pattern resolved cleanly and price has continued within its new pattern.

The noted conversations have included predictions of oil to crater completely from over supply, to spiking again from global tensions and potential for disruptions to supply.  Technically, the price of oil at the moment is in the middle of a very large ascending triangle - that could resolve to a measured move of $45 > up to $160.  To achieve that, $112 resistance has to give way > as well as exceeding previous record high @ $147.  Alternately, if weakness in price continues as it has since August 2013 @ $112 > levels to watch include breaking decisively below $100 > breaking decisively below descending trendline / and consequently ascending trendline > and a lot of price volume around low $80's.

Downside breakouts are less rewarding and less likely to occur.  Upside breakouts have higher reward and greater likelihood of achieve measured targets.  Watching and learning.  Trading On.

GOOG gaps UP Huge!

Quarterly results lead to a huge move from below $900 -> to over $1000/shr - BIG BIG day for GOOG (+13.83%).