Thanks

UNG continues to trade in a somewhat sloppy sideways range & I’ve highlighted several pullbacks towards the bottom of the range (6.55ish), including the most recent, as an objective level to go long with stops somewhat below. As such, it remains more of a swing trading vehicle for now but still holding the big divergent low put in back on June 1st so still has the potential for a longer-term trend trade if & when it takes out my T2 on the daily chart (8ish).

G-luck & remember to keep an eye on those potential red flags such as any or all of the big banks & other non-bank financials, KRE (regional banks), CA muni bonds, crude oil, & of course, Treasury yields. The more of those that reverse & start to rally, the better the chance these 60-min divergences (as well as the more significant daily positive divergences on some key stocks like AAPL) will play out for a decent rally. However, it could only take just one of those Things-To-Watch securities blowing up that has repercussions that spread throughout the financial markets so stay flexible.

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