Posted by DigiNomad on 3rd of Jan 2024 at 12:23 pm
MPC - I was considering a swing here so that I could keep my
stop tighter under the last higher low vs waiting for the break.
However, I can't find much confirmation that it's not a
supply side effect playing out today because of Gaza, red sea, etc.
Oil and gas seem to be among a small group of commodities up
today (of the ones I track). Copper is slightly green, but in the
context of what looks like a new downtrend. I was thinking
maybe China is waking up? It's green today, but barely into
yesterday's gap, which was a gap from the day before, which was a
gap from the day before that. The move today is also a big nothing
burger considering the stimulus the CCP just unleashed.
Anyway, the Oil move appears to be a supply side issue for
the most part. I think global demand, for almost everything, is
slowly contracting (aka soft landing...for the USA, but maybe not
the world).
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
$SPX minute chart wedge break
Posted by timebandit on 3rd of Jan 2024 at 10:54 am
$SPX minute chart wedge break not showing much upthrust yet
UPDATE: There it is, hit VWAP
$SPX minute megaphone - fun
Posted by timebandit on 3rd of Jan 2024 at 11:44 am
$SPX minute megaphone - fun with minute charts
MPC - I was considering
Posted by DigiNomad on 3rd of Jan 2024 at 12:23 pm
MPC - I was considering a swing here so that I could keep my stop tighter under the last higher low vs waiting for the break. However, I can't find much confirmation that it's not a supply side effect playing out today because of Gaza, red sea, etc. Oil and gas seem to be among a small group of commodities up today (of the ones I track). Copper is slightly green, but in the context of what looks like a new downtrend. I was thinking maybe China is waking up? It's green today, but barely into yesterday's gap, which was a gap from the day before, which was a gap from the day before that. The move today is also a big nothing burger considering the stimulus the CCP just unleashed. Anyway, the Oil move appears to be a supply side issue for the most part. I think global demand, for almost everything, is slowly contracting (aka soft landing...for the USA, but maybe not the world).