Buy the Dip in Crude Oil
After a prolonged run without many pullbacks, crude oil has retraced to support. Here’s the setup.
After a prolonged run without many pullbacks, crude oil has retraced to support. Here’s the setup.
The markets seemed to already have priced in what the news ultimately was and off to the races we go… and we have a great crude oil setup.
The slow grind continues as we start the new month of November in an ‘extended’ market. It’s important to know where we want to position ourselves, whether that be going long or waiting for a pullback. The key is having the right combination of trend, structure, and momentum. In this video, we’ll take a look at some key setups that I’m personally watching to take advantage of the current market.
We’ve been trading in an extended market for some time now, so it’s important to understand where we want to position size in respect to the current conditions. One of the sectors showing structure is the transports, IYT, with individual stocks within the sector like UNP and GS setting up with potential spots for new entries. We’ll discuss setups on our watchlist that are printing squeezes on multiple time frames to help us find pockets of strength in momentum. Could the 8 exponential moving average (EMA) be our new 21 EMA for entries? Watch the video for analysis and setups in this far from dull market.
Currencies and treasuries… right at the center of the taper conversation that traders and investors have been waiting for. Here’s what is on my radar.
Which currency trade is my favorite? Which index is the strongest? Which sectors can be bought and which shorted? There is a lot to like as we start November trading.
DE was the beneficiary of some good news today, but I’ve been eyeing this ticker for awhile due to a key technical setup. I am trading this in the options market, along with picking up more shares of stock. Let’s talk about how I’m doing both.
Tonight, I’m going to go through my top setups for each. Let’s talk about GME, DE, SE, TSLA, ETSY, NET, UPWK, CRWD, and more.
As the risk appetite is back not all strength is an uptrend and there are places to be cautious and seek out better relative performance at the sector level.