Sure. I was away from my desk earlier today, but here’s the update. At support with some divergences on the 60m of /CL. While I can see the potential for a little more downside, I could just as well see a decent bounce off this target/support, & at minimum, I don’t think the R/R is favorable to remain or especially to open a new short.

I also don’t care to go long here with the floodgates open (Iran allowed to sell & the Strait open… for now). Rather, best to stand aside, let the dust settle, & wait for the next higher-probability entry, long or short:

https://rightsideofthechart.com/cl-uso-crude-oil-final-price-target-hit-25-profit/

Funny, I was out for my bi-annual derm appt & a few errands this morning but started going over the top holding of XLP (staples) when I got back, & TGT was one that stood out (I plan to do a video on the sector).

TGT came off a nice divergent low PLUS the long-term primary uptrend line back in December & has rallied nicely but just ran smack into the 138 target/resistance, with negative divergence in place. As such, the odds for a trend reversal/correction are decent right now, IMO, especially if it can’t power through 128.

I post trade ideas & technical (and often fundamental) analysis on RSOTC.com. As I often state, I take many, but not all, of the trade ideas posted on this site. I also highlight objective entry & exit points, suggested stops, position sizing, etc. (I am still short /NQ)

Some trades that I take I hold out for the final price target; some I take full or partial profits at the earlier targets. Some trades I will use a tighter or wider stop than the suggested stop provided.

If my crystal ball wasn’t fogged up, I would have loved to have covered & reversed when T1 was hit, but I didn’t not a big deal as: A) The trade is still in play AND still profitable (below entry) and B): Is just one of many trade ideas posted.

Nobody bats .1000, & in the case of QQQ, if my crystal ball told me that we’d get as much of a bounce off T1 as we did, I would have covered & reversed long to game it, but that wasn’t the case, & hindsight is 20/20.

As of now, my plan is to stick with the ‘relatively tight’ stop strategy I shared yesterday with a scaleout zone starting somewhat above the gaps that QQQ & SPY backfilled yesterday, until & unless I see something that convinces me otherwise, including but not limited to some bearish developments in the financials (XLF and/or sub-sectors), a rise in Treasury yeilds and/or credit spreads that appears to have more legs, and/or crude oil futures reversing off the final price target that was just hit.