Weekend Nov 9, 2019
The DJIA new high has been confirmed by a new high in the Transports.
Outsiide the US, emerging markets are coming back from a long correction.
I think the result oof this will be stronger oil prices with the expectation of another year world growth.
WTIC
OIl prices are converging on the end of a triangle. The MAs are converging which happens prior to a change in trend. I believe the result will be higher oil prices.
As noted in our weekly column previously osted, CHK issued a going concern warning. The firm will likely end in Chapter 11 re organization.
XES Energy Service
Keep the big picture in mind here. XES is lower than at the worst of the 2009 financial crisis.
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