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Wish I had found this a couple of weeks ago. This is the point I was talking about with drill rigs and Nat Gas production.
The peak in rigs was the peak in price, the $12 to $15 range. Then along came cheep money and Aubrey McClellan of Chesapeake.
mini pullback target. only exceeds it then bears see some hopes.
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SPX..struggles at possible resistance. .. possible triangle should we pull back tomorrow.. but bullish daily.. and 20d closing in.. so should be interesting.. as per usual.. could gap either way.. which seems to be the norm lately…
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Last edited by fehro on Mon Mar 16, 2015 3:53 pm, edited 1 time in total.
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Another reversal, into the close: SPY and TLT both closing strong. All the broad equity indexes closed strong... and yet JNK closed right at the LOD. Risky junk bonds usually correlate with SPY much better than TLT does.
Since fundamentals are now irrelevant, intermarket analysis no longer yields as much fruit, since it is ultimately based in economic fundamentals.