Tom uses the USO in the popular charts here. The WTI I think is best, shows the barrel price.
How about this breakout in $TRAN? Over 7200 if resistance turns to support could be the bear flag reversal.
Market indexes liking it a lot too.
I like TSPTalk and I think most people here are well-intentioned but if I followed their advice, I'd be hunkered down in my basement with a thousand cans of tuna fish.
USO:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
just for info, take a look at stockcharts.com, the "Above The Green Line" thread there. I try and use the 8 day EMA and I like using the PSAR. Depending on how long I plan on staying in a swing depends on which indicators I zoom in on the most. For the most part it's the 8day ema, ADX W/DI, PPO and the RSI. Typical support resistance with the 20, 50, & 200dma's. I'm just sharing what works for me.
Ok, before I look at other people's stuff, I'll talk about my stuff. I can not say this is a bottom. I also have to say we have gone up since my SGT has gone red. The good is we are consolidating sideways. If we move out of the top of the box, we may have formed a bottom. With my SGT being red I would really consider this a low base but SGT is only a few weeks old and isn't proven yet. F Fund has a green SGT but only because the others are red so I don't know if the up trend will continue. Here my charts:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
I am still wondering if Transports are bullish because of fuel costs going down:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
There you go. Comment if you want.
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Good charts B. I've been watching more of the overall indices, if you notice, they've failed to break through the 50 rsi. Take a glance at some of these... $EMW, $RUT, IWC, IWM, EFA. The $SPX and the $INDU have broken through the 50, $TRAN has a nice rounded "cup" as well. Really throwing a dart and seeing where it lands. Futures heading slightly lower this morning but I'm more in the thinking that this will just be a bit of consolidation than the end of this rally. I lightened up on Wednesday taking off half of what I had in. 50% back to 25%. Deciding to keep some in the C I (10% each) and 5% S to see if the markets could push through resistance. Really my line was on the $INDU cutting and then holding the 16400 resistance line and making it support. I don't put much weight on futures unless there's really something driving it. Right now almost all the cats are out of the bag, banks, oil, China, Germany, Greece blah blah blah. The bears have spoken. imo, we have only started to see the reverberations of a lower oil price, I like $25 - $40 but need to keep an eye on individual companies, especially the ones in the ETF's. Cash is always a good thing to have. So there is some concern to keep an eye on the bears and what they're saying. There can also be significant rallies too. Maybe we won't continue the rally today but I'm thinking next week we could see an upward push if we manage some decent support levels into close today. The AGG suggests that many were unwilling to take the risk. What we want to see is a test of resistance at the top of your boxes Bquat. Question is, will we. Just me rambling a whole lotta nuttin really.
stock symbols I mentioned work on stockcharts.com
Good luck you guys!
Here"s something I just noticed: This is the first time in six months that the moving average 8 (green moving line) hasn't gone down near the 20 (green line). See light blue line in stochastics:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
S&P500 (C Fund) (delayed) (Stockcharts.com Real-time) |
DWCPF (S Fund) (delayed) (Stockcharts.com Real-time) |
EFA (I Fund) (delayed) (Stockcharts.com Real-time) |
BND (F Fund) (delayed) (Stockcharts.com Real-time) |
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