Crude oil and oil stocks setups to watch
With the OPEC event sending crude oil higher, the gasoline and heating oil markets are also fair game as well as specific oil stocks. Here is what is on the radar.
With the OPEC event sending crude oil higher, the gasoline and heating oil markets are also fair game as well as specific oil stocks. Here is what is on the radar.
It’s by far the most difficult market to trade, however, this is where having a handful of ways to see the transition helps us manage expectations and our watchlist.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
Signals are for an oversold bounce next week, could be 100+ points in the SPX, but trouble lies ahead once the oversold bounce is over. Let’s review.
As markets chop at the index level we dive below the surface to see where clarity of trend and relative outperformance is still intact: TSLA.
The ES and NQ may indeed be hanging on the oversold support and if Monday follows through to the upside, here are two setups to watch long NQ and CL.
In anticipation of the historical month of panic, this is where I am looking for a short setup.
Distribution is here on the daily, but weekly trends are intact. This is how the puzzle pieces are fitting right now.
Bulls are looking for the bottom but we may not be there just yet. This is one of the most helpful ways of knowing when we are, along with one stock I’m keeping a close eye on into next year.