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Good Wednesday Morning, MPTraders! July 22, 2017-- Pre-Market Update:Today's session will be all about Oil Prices, the reaction of the indices to Oil prices, and the runway to big tech Earnings Reports from TSLA, GOOG, TXN, and NOW after the close...First Up: September Oil prices are climbing, which shouldn't be a surprise considering we have been discussing the bullish pattern potential for a run to 93-95 since last Friday... September Crude Oil is up more than $3/bbl and nearly 4% this AM, hitting a 6-week high at 88.61 so far as the advance from the 7/02/26 low at 66.
Don’t Bank On It: A Nationwide Digital BankWith this article, we continue our new series, “Don’t Bank On It,” which we intend to write for the foreseeable future. Those of you who have been following our public banking articles know that we have been highlighting the major existential issues currently sitting on many bank balance sheets.In this series, we focus on the existential issues found on one specific bank’s balance sheet. We also challenge readers to figure out which bank we are covering in each article.Our third highlighted bank is a publicly listed U.S.
After taking the long road and making us wait for the expected break lower, the market is now sitting at the next key pivot/inflection point to the downside. If we can break through this region, it would provide further confirmation that we are indeed following the primary white count lower as part of the larger wave 3 of (c) down.With that said, until we see a break of this next pivot level, I still cannot fully rule out the yellow count.
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