Oil prices rose nearly 2% on Wednesday due to a larger-than-expected drop in US crude inventories. At the same time, oil demand increased as Fed policymakers indicated that the recent decline in inflation would pave the way for rate cuts. Brent futures (Source: ICE Futures Europe, Bloomberg) The Energy Information Administration reported that inventories fell Read More…
Introduction What if you are long stocks and the price only went up? What if the RSI was overbought ALL THE TIME? Would you think its time for a retracement? No, you wouldn’t because euphoria is striking, and that is dangerous. It is even difficult to do technical analysis because the price only goes up Read More…
Recap We covered the underperformance in RTY futures a few weeks ago and said that we were getting close to the time that RTY needs to catch up to the greater market. It looks like we are finally at that time now and RTY is on its way up. You can read the previous analysis Read More…
CL Volatility We havent seen much volatility after the very uncomforting attempt on former US President Donald Trumps life this morning. The week ahead could be a very hostile one after this event on the weekend as well as OPEC monthly report and EIA report this week. Let’s see if we can position ourselves properly Read More…
Currency futures rose on Friday on dollar weakness as soft consumer inflation figures overshadowed an increase in wholesale inflation. Investors focused on the higher likelihood of a Fed rate cut in September. US producer prices (Source: US Bureau of Labor Statistics) On Friday, the US Producer Price Index report revealed that inflation increased by 0.2% Read More…
NQ Drops 2.8% in a day NQ drops 2.8% in a day, and everyone gets scared. The markets have been going up and only up, so a pullback is due at some point. If you look at the NQ chart you will see nothing but green candles all the way and an RSI that has Read More…
