Cobra's Market View

Looks like a good impulsive down sequence so far. Still leaving the door open for them to jam it straight up during the power hour.

NYSE Tick and ES. 1 minute.

As ES slides south, the Tick is looking ... what? Schizo. Active. Spiky. Bulls and bears slugging it out. A furious fight for territory. Lots of fakeouts.

COP. ConocoPhillips. Energy. Oil and Gas. Founded in 1917. HQ in Houston, Texas.

It has been doing well financially and in the market lately. Price/Earnings 11.14.

I posted it on here back on October 20, a few days ago.

Not holding at this time. Just sharing information.

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects. ConocoPhillips was founded in 1917 and is headquartered in Houston, Texas. -- Yahoo Finance

Trades w 2 Cats wrote:

ES 12-22 (2000 Tick) 2022_11_03 (12_55_48 PM).png

Count looks good until that C wave. Kind of ended too soon.

Nice chart Boss

Nat Gas and Crude Oil industries are stuck for now.

IF China recovers looking at a major supply crunch by next summer. If they don't then things continue at a profitable but not supercycle level. Diesel storage is at a modern low in US but truck traffic is dropping fast. Crack spreads are super positive. China has turned their small refiners loose. Fleet of tankers now moving light weight fracking oil from the gulf to China, they will export it back as gasoline. A month or two ago media said China had issued only half as many permits to export diesel compared to past operations.

Nat gas storage in Europe is full, but lots of room in US caverns. Once winter bites and storage opens in Europe and they unload all those tankers they will be heading to the US for new cargoes and our Nat Gas prices will move up again towards parity with world price.

early MOC imbalance 124 million buy.

Waiting for the Fed speakers to refine the message over the next several days. In the meantime waiting to see where we open tomorrow.

Well, guess that's it for today. Here's what Friday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449397

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449397

ES 5 minutes. The bears having a say.

Have a good afternoon, Everyone.

Thanks, Cobra, for your site, and for hosting.

OK never going to nail it like this again, pure luck.