Posted by bluezango on 4th of Aug 2016 at 11:03 am
Boy, this market cannot decide what to do. Unprecedented
flatness and volatility. S&P just hitting the previous
support 2,159-2,165 (old channel) and now major
resistance.
My opinion is that Oil going from 50-52 range to 39-40 range is
the event or move that will make it decide to correct to some
degree. I think that the energy sector has the ability
(again) to drag down the market. Just my 2 cents.
Hence, I am hesitant to do Energy trade ideas long. I know, just
trade what is in front of you and use subjective entries!
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General Market Comments and Opinions
Posted by bluezango on 4th of Aug 2016 at 11:03 am
Boy, this market cannot decide what to do. Unprecedented flatness and volatility. S&P just hitting the previous support 2,159-2,165 (old channel) and now major resistance.
My opinion is that Oil going from 50-52 range to 39-40 range is the event or move that will make it decide to correct to some degree. I think that the energy sector has the ability (again) to drag down the market. Just my 2 cents.
Hence, I am hesitant to do Energy trade ideas long. I know, just trade what is in front of you and use subjective entries!