The Crude Setup In Front Of Inventories
Inventories are a major catalyst for volatility. Crude is offering both a momentum and pullback trade for a long. Looking at which setup we get to and the levels that would trigger each the entry is key.
Inventories are a major catalyst for volatility. Crude is offering both a momentum and pullback trade for a long. Looking at which setup we get to and the levels that would trigger each the entry is key.
In this update I go through today’s notes to better explain how and why we are bullish intraday trading and what you need to be able to “shift gears” in this asset bubble environment.
Tomorrow, I’m going to take another bite out of CHWY, as it has a fantastic Five Star setup along with some high short interest, and lots of attention. Here are the parameters.
Another day, another new, all-time high in the Nasdaq, led by market leaders AMZN, MSFT, NFLX, and TSLA — though GOOGL and FB weren’t far behind. This roller coaster ride will likely come to a screeching halt, but we’re not at the end of the ride yet. Let’s talk about CLX, CMG, ZS, and more.
In this video I take you through the 1800 level resistance and the levels I want to get long gold from next.
What is the current state of breakout entries (versus pullback entries) in the indices, gold, bonds, and crude oil?
Enjoy the long weekend — and here’s what I’m looking for next week.