Wed April 10
The hourly INDU chart is getting rather oversold so could see a counter trend rally into Friday, if so a great place to add Hedge
Note the low PMO at bottom.
Hedge is the exact opposite of INDU or SPX, it is time to add big time on rallies.
Crude oil from barchart, note crude reversesd early loss and rallied a dollar on a big stock down day. Expect to see much more of this in the future.
May WTI crude oil (CLK24) on Wednesday closed up +0.98 (+1.15%), and May RBOB gasoline (RBK24) closed up +2.60 (+0.94%).
Crude and gasoline prices Wednesday recovered from early losses and posted moderate gains after US intelligence said it believes a major missile or drone strike is imminent by Iran or its proxies against military and government targets in Israel. Iran has said it will launch some type of attack on Israeli assets as revenge for the recent Israel airstrike on Iran's consulate in Syria that killed some top Iranian military commanders. An escalation of hostilities in the Middle East could lead to the disruption of crude supplies from the region.
Crude prices Wednesday initially moved lower, with crude falling to a 1-week low after the dollar index soared to a 4-3/4 month high. Also, today's slump in the S&P 500 to a 3-week low undercuts confidence in the economic outlook, which is bearish for energy demand and crude prices. In addition, Wednesday's wee... Read more
Our oil stocks recovvered and finished up on the day while IINDU dropped over 500 points, what on earth is the FED t thinking? Jamie Dimon see 8% in a few years, h ow about next year Jamie? Taking out $80 oil doomed any idea of a rate cut, this is a long term new trend Not a hiccup or whatever you called it.SIlver is over done short term but longer term looks great
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