Keep an eye on oil the next few days imo. Pulled back more than I anticipated it would after the April 3rd gap up, but today it closed above VWAP from that day, indicating that buyers are back in control since then. Lots of room to move higher if this level holds imo. I'll be looking for longs if above $67.
Aside from the scam close in June, today was the first close above the 50 sma since December of last year. Filled the gap from that day today as well so I lightened my position into the close & bought some lotto puts in case the resistance wants to hold. Looking to add on any pullback if we get one. $90 by September opex would be sweet.
Getting down to the lower timeframes, CVS is looking ready to go soon. Price has been trading in this range for a couple months now. 9 ema crossed the 20 ema yesterday. I added on the dip today. Still looking for a multiple month run up on this name as long as $66 holds.
Solid close in 10 year yields last quarter. This chart is still the scariest one out there imo. As long as 10 year yields are above 2018 highs (~3.25), I don't see the Fed cutting rates. If anything, I believe they will continue to raise. Part of the narrative is that equities have increased so much this year due to the Fed slowing down rate increases. I'm just...