Weekend Jan 26, 2020
PMO has finished a clear five waves up, Support is now at the previous fourth wave low of 27,5000.
Crude oil topped, I was incorrect about a five wave pattern crude ended wiith an ABC corrective pattern. II doubt the previous lows of 51 will hold given the rapid descent of price.
NATGAS is getting clobbered and accelerating the rush out of anything energy.
Again I doubt 1.81 previous low holds.
The China virus threat has all things in transport under pressure. China is trying to isolate a city of 11 million. That is twice the size of the entire DFW metroplex.
I had hoped the energy trusts would hold with their great dividends but I am out of those as well. I suspect this year will look like 2018 which was up and down, with the fourth quarter down hard. That would make sense as we approach the election in November.
More this week.
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