Afternoon Update – Watching the USD
The dollar remains the most important chart to watch in our opinion and while it too seems to have binary-move potential it will most likely dictate the way the rest of the risk assets go. On the daily chart looking back three years we see a higher low accomplished earlier this year and now some […]
Bucket 3 Idea: OIH
OIH is the oil services ETF and currently loooks to be sporting an inverted head & shoulders on the daily chart below. Given the broader market cross currents this is one of those instances where risk management becomes ever more important than usual. We plan to go long for an initial Bucket 3 positon either […]
Morning Thoughts December 1st
Yesterday's rally has brought us to levels in equities that give us hope for more upside into year-end and possibly into January/February. The three day rally has brought the S&P 500 up to an immediate-term overbought level. After a pullback to the 1220-1230 level or so we would look to leg into some Bucket 2 […]