Ugh. In spite of abysmal non-farm payrolls, the week ended with the VIX still in sub-15 territory, meaning that less than 45 DTE premium selling in the broader indices is "off the table" for another week in the absence of something earth-shaking occurring in the markets here. This could come in the form of the most recent "Brexit" referendum poll, which shows...
If you're into oil, my guess is that you're hot to short the stuffing out of this instrument in the vicinity of this $50 level. Me, I'm waiting for a couple of different things to happen. Here's why: First, oil's been an somewhat of a tear (albeit, sputtering in places) off of the April low of 35.22. Shorting here would be against the trend, which has been...
(iii) wave target's around $26,46 for a 1,618 of (i) (iv) waves would correct the bullish no under $24,26, should be less if goes to the 0.381 fibbos retracement of (iii) wave (v) will go to $29,13 again for a 1.618 of (i) that matches the 2.618 fibbo of i (circle wave) what really makes sense... will see... Now below $21.56 invalids the analysis.
I will be accumulating $XOM Exxon Mobil below $81 as a scale in. Approx $80 down to $78 is a zone that is showing a high probability of at least a significant bounce. Currently XOM is signaling accumulation. It may turn into something more. My strategy is: I'm wrong below $75 and/or scale out some with profit at $85 and move my stop(s) up. This is a risk...
3-5 And here we are today with yet another energy stock building a Bull channel in green. What do I need to see to make me get long? An upside crossover of the green line that's what. THEN one could place a stop on any break below the blue line of line of one's choosing. The top blue line is a tighter stop and IF IF IF an issue is going to go after breaking out...
Crude oil wti futures on approach from above to linear trend line from Dec 1998 to Nov Jan 2009 extended to present. Should see a bounce or stabilization at least. Need to re analyze as condtions in this market are NOT normal. Caution on the long side. Likely short covering. Activity slowing down upon approach. Over night likely to have the move.