The massive move-up in crude oil on Monday created a new dynamic for this in-the-news market. The move to two-month highs completed one of our favorite major technical formations, the double bottom bounce.. In this short video, I share with you two conflicting indicators and which one I am choosing to go with. I think [...]
Adam Hewison made a new video on Crude Oil, discussing cycles today, that fits nicely into the strategy I talked about in my article, “Crude Oil Price Forecast, and the US Dollar Rally.” It shows how the Marketclub Trade Triangles can be used to trade crude oil profitably. Here’s what Adam had to say: It’s [...]
In the power-trader newsletter, we’ve been talking about the move lower in crude oil, and the correlation with the uptick in the U.S. Dollar. Today, crude oil broke below a very important trend line / rising channel, indicating further weakness in the commodity. Let’s start with the US Dollar, Symbol NYBOT_DX. There is clearly an [...]
I like being direct. Today’s 5% move which should be a sign of market strength is nothing but a typical bear market counter trend rally; at least it is for now. S&P 500 (SPX) Forecast The S&P hasn’t put in back to back gains since February 8th, and hasn’t seen back to back up weeks [...]
