10 thoughts on “CHART OF THE DAY – OIL UPDATE

  1. Gary Post author

    During the advancing phase of a larger intermediate cycle you have to buy the dips…

    1. Gary Post author

      Actually one wants to buy the dip during a larger intermediate decline also, you just wait longer, and let it get more oversold first.

  2. Gary Post author

    The establishment is determined not to allow a correction ahead of the elections.

    This is a perfect example of why I would never short the market.

    1. s29

      Looks like it. Yellen is in Obama’s pocket, and they want Hillary to continue the status quo. Don’t know if that’s gonna happen, but a higher stock market certainly helps the current political party.

      There’s not a chance in hell they’ll raise rates in September and risk a market drop like after December 2015.

  3. ras

    Wow, what a volatility in crude related etfs? Market probing for support for daily cycle low? One day at a time.

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