You would never think from looking at the WTI and RBOB charts that there’s an energy crisis of any kind. CL has now spent a month below its 200-day moving average, failing for the 8th time to retake the important resistance. And, RB has broken below its October highs and isn’t far from its May … continue reading →
Monthly Archives: August 2022
ES bounced off its 50-day yesterday, though the bounce is losing steam as we approach the open. Circumstances are very different from 2021, when you could set your watch by 50-day bounces. continued for members… … continue reading →
Markets finally got the message. Or, maybe Powell finally put it plainly enough: there will be more pain before the Fed eases. continued for members… … continue reading →
Powell threw cold water on the market’s optimistic outlook this morning, suggesting that aggressive tightening will continue. continuing for members… … continue reading →
Futures are up modestly on very light volume in advance of the insights expected from the Fed’s Jackson Hole meeting. continued for members… … continue reading →
Futures are flat after enjoying a modest overnight ramp. continued for members… … continue reading →
Yesterday marked the second day in a row of sharp declines in the equity markets following the 200-day moving average backtest and the passing of OPEX.There’s more where that came from. continued for members… … continue reading →
Futures are off sharply this morning, reflecting the lack of support behind the runup to the last two options expirations. continued for members… … continue reading →
BTC is off over 7% this morning. It has spent the past two months in a flag pattern – a small channel which interrupts what in this case was a strong downtrend. It’s normally a continuation pattern, meaning that the downtrend is expected to continue following the interruption. continued for members… … continue reading →
Looking at the bounce since Jun 16, I can’t help but think of Chuck Yeager’s ill-fated journey into space. Futures are up very slightly this morning, fixated on maintaining prices through tomorrow’s massive option expiration.VIX: an excellent example of maintaining an even strain.continued for members… … continue reading →