3309 Drysdale Ct
Edwardsville, IL 62025
I have been trading CX a little and wondering if the daily chart
has the dreaded candle setting up? Very extended for sure.
January 27, 2023 Tom McClellan The chart is
available. onStock charts
The McClellan Price Oscillator for gold futures prices has
reached a pretty high level, equivalent to what it did at the price
top in March 2022, and it has just now turned down. This is a
bearish signal and could set off a pretty big pullback.
The McClellan Price Oscillator is a cousin of the more famous
McClellan A-D Oscillator. My parents created both of these
back in 1969. That research grew out of their desire to get a
better signal than could be gotten from looking just at moving
averages alone. Together, they wondered about finding the
difference between two moving averages, and this was well ahead of
when Gerald Appel did the same thing with his Moving Average
Convergence-Divergence (MACD) indicator.
A McClellan Price Oscillator employs prices for any stock,
index, commodity, or futures price series. One calculates two
exponential moving averages(EMAs), known as the
10% Trend and 5% Trend. Those percentage numbers refer to the
“smoothing constant” used in the calculation of each EMA. The
smoothing constant governs how much weight is given to the most
recent data, so for calculating a 10% Trend you would multiply
today’s closing price by 10%, and then add that to 90% of
yesterday’s 10% Trend value. A larger smoothing constant
means a faster response to price movements.
The chart below shows the 10% Trend (red) and 5% Trend
(green) for the April gold futures contract. The fact that
they have become spread far apart is another way of saying that the
Price Oscillator has risen to a high value, because the Price
Oscillator represents the distance between those two EMAs.
Covered more RIG at 6.50 and rest of WTI 6.37
That supply on TSLA is about the 175-range mentioned by Carter
Worth last night
With OIH backing off the drillers are in short term trouble.
Covered more RIG 6.57 covered more WTI
Covered half WTI 5.45 and half RIG 6.62
Took small, short in RIG 6.74 when I saw CVX earnings and
action. Also shorted WTI at 6.65 earlier today
Key Takeaways Mark Newton
Good luck I saw him too.
Put calls very low at .73 for a change.
With the US presidential election on Tuesday, Nov. 5, 2024, we
are in a pre-election year. In case you believe in cycles
If we look at the
500, we see that the first quarter of a pre-election year has
been positive 17 out of 18 times since 1950, with the index rising
by an average of +7.4%. This was also the best quarter of the
entire four-year presidential cycle. On top of that, the second
quarter has been quite good as well.
Get S&P 500 Index live stock quotes as well as charts, technical analysis, components and more SPX index data.
Boy have the small drillers given it all back so quickly. NINE
RIG BKR etc. Too many algos and small traders ready to pull the
Took quick gain out RIG 6.37 .
Actually went long RIG after huge drop to 6.25 area. from
Took a swing short again on RIG at 6.55 on opening with high RSI
and covered most 6.37 and 6.36
EVEN WOLF missed on earnings down 7 percent last night but
recovering a lot this a.m. I did take half of my INTC shares
off on opening 30.09 . Just being careful
INTC had large call buyers according to Fast Money last night.
So I bought some stock 29.88 premarket. Even the dead Semis are
perking up for now.
The much-touted $3 support for
gasis history, but is it game over for the bears? From
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