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QQQ also pushing to HOD. But both have major short-term resistance ahead. Only a gap fill by all majors will cause the indexes to be back in the lower end of the recent range.Trades with cats wrote:Smaqlls (IWM? RUT? -ed) breaking out...
That wedge has me salivating for a corrective bounce trade (maybe to 50ish) before trend resumption?fehro wrote:/CL W/D/60m.. possible bullish falling wedge on oil.. 60m.. not sure.. could see a sharp bounce soon-ish.. Daily looks awful with the weekly.. only saving grace is the *weak dollar. Dollar turns, aka Le Pen, Euro issues,.. look to $36 oil by summer
speaking of OIL, the XLE is having an inside day, and hovering at a Donchian 20(+) day low.Mr. BachNut wrote:That wedge has me salivating....fehro wrote:/CL .... Daily looks awful.... look to $36 oil by summer
Looking at the weekly chart, one finds an ascending wedge.Trades with cats wrote:CL- Hedge Funds have not panicked yet. But weekly inventories are going to be a wild ride until refinery maintenance season ends. Then we have Saudi and others trying to export as much gasoline as they possibly can. Of course they burn raw crude to run air conditioning in the summer so someone will have to explain that to the Hedge Funds or they will panic over OPEC production numbers.It really is a fun game.
From John Kemp at Reuters London
boy am i glad u r back bossBullBear52x wrote:Short term LH, come2papa until then will bulls got a say.
Risk is still on, on HYG.Al_Dente wrote:boy am i glad u r back bossBullBear52x wrote:Short term LH, come2papa until then will bulls got a say.