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testing the previous low, no idea whether the low was in or not. wait and see.
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Small Cap futures showing two failures of a second wave to ignite so far this morning. Bears may not be doing much but bulls are looking pretty sad as well, exhausting the pool of small dip buyers like myself on failed moves. Where is that Swiss National Bank wad of cash?
Stock Board Assets posted this crude oil chart on twitter. 12 months of price with a volume profile. According to the media we are now in the break even to small loss zone for the US Shale drillers and they have not hedged much of the 2018 production yet.
Clipper Data blog has several nice charts showing what is going on, including the fact that 40 tanker loads of Nigerian light crude are currently looking for buyers.
I think this one chart explains the Saudi failure to move prices longer term. I am assuming they were under tremendous pressure to get a deal so they allowed the Iraq ies a loop hole.
te_fern wrote:The TICKs don't seem too excited about this morning start up....
My old school price based indicators are giving chop indications ( a buy or sell every five minutes), a bad day for a momentum chaser like me.
I still have hope that an algo triggering headline will come out of the G-20 meeting this weekend so we can have one of those fun to trade gap and go Mondays.
te_fern wrote:The TICKs don't seem too excited about this morning start up....
My old school price based indicators are giving chop indications ( a buy or sell every five minutes), a bad day for a momentum chaser like me.
I still have hope that an algo triggering headline will come out of the G-20 meeting this weekend so we can have one of those fun to trade gap and go Mondays.
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I don't hold over the weekend, but with three out of three I may get up a little early on Monday.
Big problem with Mountain Standard is you have to get going at 0 dark thirty to play a gap open.
There we go again, the London/Frankfurt closing bell rally. Sometime between now and an hour from now as the volume drys up we seem to start the midday drift.
Trades with cats wrote:There we go again, the London/Frankfurt closing bell rally. Sometime between now and an hour from now as the volume drys up we seem to start the midday drift.