Ready For a Crude Awakening
Yep, Dad jokes for all, but let’s talk about the structure and momentum that crude has developed for what I think is the trade of the Summer: long energy.
Yep, Dad jokes for all, but let’s talk about the structure and momentum that crude has developed for what I think is the trade of the Summer: long energy.
In this video I discuss why I think crude is about to take off; this video is rich with different supporting arguments for energy going higher.
The 20:1 split in AMZN shares will require all Fibonacci levels to be redrawn on Monday once charts are adjusted. The latest Voodoo Lines update already has the levels I’ll be watching because they’ve been working so well in this name.
There’s only one day left to trade Amazon pre-split, but in good news, split moves generally continue post-split. Check out the levels I’m targeting, and how I’m setting up my options trades via bullish butterflies.
As this summer heats up so is the volatility in this market. The path to clarity starts with structure but when we see intraday swings as quick and large as we are seeing, time and volatility become invaluable, and here is how we trade it.
After a bit of stagnation, the indexes broke out higher today, and moved in an epic short squeeze fashion in a swift and strong move. Key tickers carrying the indexes higher included NVDA, AMD, AMZN, and some cybersecurity names that we haven’t seen making these moves for quite some time. To learn more, check out the video and I’ll go over key relative strength tickers to ride this move higher.
As we head in Non-Farm Payroll the markets are poised to make a more significant move. What are the prevailing trends and where are they? I cover that and more in this update.
Though the weekly charts remain bearish, we’ve seen the indices close above key levels for the first time since late March. Is this enough to warrant a bit more upside? Let’s take a look.