Every once in a while I like to trot out the monthlies so we can refresh the big picture view. So, here they are on a few varied items. The…
Selling Crude Oil bear fund SCO here, on the gap fill at the 62% retrace level and lateral resistance. Oh, and let's throw in an overbought 120 min. RSI for…
After the IBM stinker I could use something that is working; one of those is the short I took against crude oil, as noted in NFTRH a couple weeks ago. …
Because as Heisenberg explains, the ramp up in crude oil happened on Saudi jawboning; and because the S&P 500 went up at the same time, seemingly in sympathy. I don't…
An eventful day. The Trump administration is playing its cards and scaring half of the world (not just Russia) about its willingness and capability to act. This focuses attention on…
It seems that I don't post very much on oil (or Natural Gas, for that matter). These are covered each weekend in NFTRH; but yes it's true, I give oil…
We have been noting that crude oil is in a bullish looking pattern, but right up against resistance. Here is a clearer view of that situation. Resistance (red line) is…
First of all, it is not a top in crude oil; it is a potential top that has so far held initial support at its neckline. Secondly, if it does…
This pattern in USO is not at all pleasing. Interestingly, it comes just as the 'Golden Cross!' (of the 50 MA above the 200) hype was about to rev up. …
Gold vs. Commodities is still intact, but Gold-Oil has nearly been cut in half from its highs (I think oil is over baked, but...). That is a building fundamental pressure…
Here we play the short-term technical game again despite the gold sector running against its own fundamentals (i.e. as the ‘inflation trade’, including mining cost input oil, continues higher). At some point this will matter.
But on the other side of the coin are price, momentum and technicals. A Monday open can be a tricky thing, but as of this moment GDX is in a posture to break the most recent consolidation.
In pre-market there was some hype surrounding the Doha 'failure' to fix prices in oil. Failure? That's a victory for the free market and it turns out, those of us…
Yesterday we planned out the first short-term target on SPX as the area surrounding 2060, which had been bounce resistance in October and is so again. Let's expand 'surrounding 2060'…
The 2020 to 2060 zone has been noted as a logical area for active bears to begin shorting. SPX closed at 2033 yesterday. But people should refuse the bear Kool-Aid…