Platinum has produced a nice TD daily bear flip as well as collapse pattern after launching a parabolic run into last Friday’s top that saw its RSI hit about 90.
And crude oil has dropped down and closed below its declining lower BB. In collapse mode, but might pop enough tomorrow to get back above the lower BB.
Crude oil is in complete meltdown mode. Not only did it produce a TD bear flip on Monday’s drop but it currently is on the verge of performing a weekly bear flip as well. It also broke beneath the base of the last short-term bottom. Meanwhile, the overall stock market has remained levitated near the recent highs. So who play’s catch-up?
It looks like today negative divergences were put in with new recent highs in Apple and the Apple 100 while the Dow made a retest of its highs (it did make a new closing high on the 60 min chart) while the other indices were took weak to even approach their highs. Lower rsi on 60 min charts and fewer 52 day highs.
Today is the strongest , most bullish day during opex- week and judging how all markets were acting in after-hours activity last night, it should have been an easy bullfest with Bernanke speaking (supposedly he was, I didn’t see it) and no really important news releases scheduled.
It looks like most stock indices completed TD 9 upcounts yesterday, probably a reason they have remained levitating near their highs whereas most commodities had already reached TD 9 upcounts. No real bear flips yet but tomorrow will provide an easy opportunity.
Oil, the commentators are squawking like chickens.
I’ve been watching this for 3 weeks.
it’s a headfake IMHO, one happened mid December last year.
(expletive) something to distract the masses I suppose.
Platinum has produced a nice TD daily bear flip as well as collapse pattern after launching a parabolic run into last Friday’s top that saw its RSI hit about 90.
And crude oil has dropped down and closed below its declining lower BB. In collapse mode, but might pop enough tomorrow to get back above the lower BB.
Crude oil is in complete meltdown mode. Not only did it produce a TD bear flip on Monday’s drop but it currently is on the verge of performing a weekly bear flip as well. It also broke beneath the base of the last short-term bottom. Meanwhile, the overall stock market has remained levitated near the recent highs. So who play’s catch-up?
It looks like today negative divergences were put in with new recent highs in Apple and the Apple 100 while the Dow made a retest of its highs (it did make a new closing high on the 60 min chart) while the other indices were took weak to even approach their highs. Lower rsi on 60 min charts and fewer 52 day highs.
Today is the strongest , most bullish day during opex- week and judging how all markets were acting in after-hours activity last night, it should have been an easy bullfest with Bernanke speaking (supposedly he was, I didn’t see it) and no really important news releases scheduled.
It looks like most stock indices completed TD 9 upcounts yesterday, probably a reason they have remained levitating near their highs whereas most commodities had already reached TD 9 upcounts. No real bear flips yet but tomorrow will provide an easy opportunity.
ha, that;s when driving truly becomes a luxury. Maybe I should invest in a prius
When you start paying $9.50, then I’ll understand your complaints.
Crude oil rising wedge:
http://niftychartsandpatterns.blogspot.in/2012/09/crude-oil-rising-wedge-update.html
I guess 4$ a galon is a bargain then? wow. lol
Looks like a 4th wave down to me… with wave 5 up still to come!
Oil, the commentators are squawking like chickens.
I’ve been watching this for 3 weeks.
it’s a headfake IMHO, one happened mid December last year.
(expletive) something to distract the masses I suppose.
[WTIC]
http://stockcharts.com/h-sc/ui?s=$WTIC&p=W&yr=2&mn=0&dy=0&id=p50754331995
GOLD in a Range:
http://niftychartsandpatterns.blogspot.in/2012/09/gold-in-range.html