Haven't been inspired to post anything lately. So I guess I'll just post some charts.
An update of Copper. Seems to be having trouble regaining that neckline, which corresponds with the 20-day MA
OIH weekly is coming up to an important resistance level. A pullback and basing under $45.28 would be healthy, but you never know how exuberant things will get.
Crude recently achieved two targets; the 100% projection and 20% Fib. fan
The ES is mildly pulling back so far from the previous 2/16 momentum
and while it seems long in the tooth, the trend remains intact for now
Finally, the QQQ; The weekly has registered the highest momentum since 2001, and while large momentum readings can signal higher prices to come they can also signal impending pullbacks
This trend has not touched the 20-day MA all year and has an overly extreme slope
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
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