XES (Oil & Gas Equipment & Services ETF) could be in the process of forming an Inverse Head & Shoulders bottoming pattern. A little more downside in XES followed by a resumption on the primary uptrend in energy stocks would be inline with my recent scenario for a correction in the energy sector, which is [...]
A quick look at some of the key technical levels & developments that I'm monitoring on within the U.S. equity markets. Starting with the 60-minute charts of the broad index tracking ETFs: The momentum in SPY is rapidly diminishing on this most recent thrust to a divergent high. A break below the 253.85ish support will [...]
Technical analysis of the stock market, crude oil as well as several swing trading opportunities that stand out at this time. The following securities are covered in this order: /CL (crude futures), XOP, XLE, NVDA, SOXX, SMH, XSD, CRUS, QCOM, XLP, XBI, SPY, QQQ, & IWM. Playback speed can be increased in the video settings [...]
This video highlights some of the potential swing trading opportunities that stand out at this time. Covered in the following order are: Crude oil & the energy sector via /CL (crude futures), XLE & XOP gold & the US dollar via /GC (gold futures) & the EUR/USD forex pair various agricultural commodities via /ZW (wheat [...]
Both /CL (crude oil futures) and USO (crude oil ETN) have bounced back to resistance following their recent breakdowns while the energy stocks, shown here via XLE & XOP, have also bounced back to resistance following their respective breakdowns. All charts below are 60-minute time frames.
Crude oil as well as the energy sector appears poised for an imminent correction. After hitting & exceeding the unofficial 3rd price target, XOP is now at rarely, if ever seen overbought readings & appears ripe for a pullback of at least 3-5% with a sell signal to come on a break below this 60-minute [...]
Analysis & trade ideas with buy points & price targets on various commodities & commodity tracking ETNs.