Bullish Oil Futures = Energy Companies #18 (RIG)Timing: Pay attention with this explanation: The first week of February the Dow Jones dropped 1,175 points and the major indexes too.
When a situation like this happen is a good opportunity to buy stocks at discount but not intermediately Not the next day or the next week,
it is necessary to wait a few months for things to calm down.
If you look the SP 500 for example or the Russell 2000 too you can appreciate that the week than the market dropped did a support
and one month later the market dropped again and did a support in the same level at the end of March and a pattern began to take shape
(a triangle with the same level of support) and now (May 01 to 15) this pattern is already broken. and the major indexes are bullish in this moment.
And what does this mean= synchronization or timing
For a swing trader the synchronization with the major indexes is very important because.
You can not afford to keep open positions in negative territory for months, waiting for things to improve.
And the other aspect to watch is that Crude Oil Index is Bullish too.
The idea is a triple bottom look the arrows
(Support=Blue Arrows) (Resistance=Red Arrows)
