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Cobra wrote:Too early to tell. The daily chart doesn't look good assuming we close right here - a Bearish Engulfing could have formed.wave wrote:Maybe today is the lower high since 02/22 and then we will see a lower low.
Don't long. This is a failed Double Bottom, careful.bear33 wrote:cobra you think we rebound from here, or the sell of is too strong to go long?
2nd legs coming in 60min chartCobra wrote:3 push down, so the market could be bottomed here (intraday only). Let's see how rebound goes.
Nowadays it works, but not always. Generally, a strong oil is good for stock market, but when oil goes too high, it'll become bad for the market. And another thing, how to know it could be a later stage of a bull market? Watch energy sector, if it rises crazy like now, well, be careful.Roadrunner wrote:Cobra
Learning from this intraday messages and from all who contribute. I couldn't help but notice the inverse relationship spx vs oil as we approach 100$/barrel WTI. Do you think the TA of Oil prices have meaningful forecast for spx?