claydoctor
Short

DOWT - OIL - SPX500 - USDJPY - Just who is in charge here?

INDEX:DOWT   DOW Transportations
66 7 1
see chart. All sync, each one looking at the other saying, you go first.
Oil, in the intermediate term I think.
Might see a turn south today, in the 30 minutes chart.
I expect a rally this Friday.
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claydoctor IvanLabrie
a year ago
Friday? NFP report? Expecting a strong number? And then encouraging a FED rate raise, giving everything a bump up? ADP Thursday gives a hint, clue.
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claydoctor IvanLabrie
a year ago
But by the charts OIL completing its right shoulder is about due, as in this week or next at the latest to start down I think. Not sure what the catalyst will be, and will have to be something significant (perhaps a bad payroll report, unexpected) What do you think?
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IvanLabrie PRO claydoctor
a year ago
I don't think about oil in such a long term way...I see immediate upside, based on the present.
Once it breaks up, it'll hit 52, and up to 60.
After that? No clue, it can continue or it can resume the downtrend.
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claydoctor IvanLabrie
a year ago
So you are NOT a believer in the HS completing then? This is a significant head and shoulders don't you think? For it NOT to complete would be the lower odds I would say.
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IvanLabrie PRO claydoctor
a year ago
I think H&S is a lower probability, and suspicious diagnostication more often than not...to the extent that I don't consider it at all in my analysis.
My view is currently bullish for EURUSD, but in the short term I see a slight rebound in European equities is highly probable.
Oil, might take until NFP to rally, if it does, which I think is probable, around 60% chance.
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timwest PRO
a year ago
It is end of quarter here today - the close today will likely be a short-squeeze ramping and I'd expect it to close on the high of the day... just my sense at the moment. 10:56AM EST SPY +2.85 @ 190.97 currently...
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