Weekend 11/24/2024
Weekend WSJ The art market is bakc up, no wonder it it following the stock market See page B1
Duct taped banana sells for $6.2 M six times the asking price
I give up trying to call a top in this market but the banana is another example of an over heated market
Page B10 Things are tough in Europe
Bosche to shed 5,500 jobx
Ford cuts 4,000
VW faces a strike closing 3 Plants
Michelin laying off workers
Swedish battery maker Northvolt files for bankruptcy
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Markets tend to be up the day before and after Thanksgiving. Momentum indicators like MACD and PMO are suggesting that will happen for INDU SPX NDX.
Here are the weekly charts of Patterson PTEN and Transocean RIG. Both look to be bottoming and the PMO is turning up.
The two leaders are Halliburton an SLB, Here is HAL already showing a cross over of the PMO and a big up week
XES is the ETF for energy service including both HAL and SLB. I am showing all these graphs to demonstrate that this is an across the board rally in energy service. I suggest orders at and under the market in ten percent increments.
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