SUPPLY AREA #SPX #SP500 #OIL

A) UPDATE ON SP500 and POSITIONING Inside of the SUPPLY AREA and not reading the SELLING I was expecting. Please note the SUPPLY AREA on the chart #SPX #SP500 EARNING WILL TAKE OVER THIS MARKET STARTING THIS WEEK! Read Post from April 7th where we mark this area as important. As of today, I see

CL printed 49.78

Energy ETF +2.96% positive WTD Health Care the weakest at -1.99%  

  • Published in Oil

OIL NUMBERs

This number might trigger a global risk reduction if OIL consolidate in the lows 40s Third party data: OIL Highlights Crude oil inventories unexpectedly rose by 3.3 million barrels in the June 2 week to 513.2 million, 2.3 percent above the level a year ago. The weekly increase broke an eight-week long string of drawdowns and stunned…

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$OIL Down (Under 50)

There is correlation between oil price and stock market. This correlation was evident several times in the last years. There are three reasons to take a look at this correlation. When oil prices fall, oil stocks fall. This puts pressure on the stock market. Right there is supply of oil. However if the past is…

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$FED

Major indexes ended modestly lower after minutes of the latest Federal Reserve policy meeting struck a dovish tone. Long-dated Treasury yields inched lower in choppy trading on the cautious tone which reduced the expectations of a hike in March, while the dollar too edged lower and gold turned higher. Oil fell on expectations of surge

$Oil Lower, $NASDAQ New High

Record Iraqi crude exports and rising U.S. output added to oversupply concerns, dragging oil lower. Energy and financial stocks weighed on the Dow and the S&P500, while the Nasdaq was boosted by healthcare stocks. Treasury yields slipped following revival of fears of a “hard-Brexit”