USO Setup To Bounce Higher

USO Setup To Bounce Higher

The United States Oil Fund etf (USO) found good support at the 200 day moving average (red line) reinforced by several bullish candles and now sits at minor resistance  at $40.  A push above that would lead us to initiate a Bucket 2 trade with target near...
Exxon Mobil A Tell For Energy Sector

Exxon Mobil A Tell For Energy Sector

The energy sector has been an underperformer over the past two weeks and currently sits at an important support price level, if we look at the XLE etf.  For clues of behavior in the XLF I tend to look at Exxon Mobil(XOM), which currently also sits at critical...
One Chart To Sum It All Up

One Chart To Sum It All Up

The thing to remember about today's trade is that A) the world is interconnected by the banks and derivatives and B) that many more institutions and individuals these days own multiple asset classes.   Regarding point A, this means that the mortgage default...