Our Live Trading Rooms Bring Together Thousands of Traders from Around the World!Learn More
And then there is Natural Gas, which again is showing a bit of life on the upside as it carves out an 8-session sideways range, or bottom, between 2.83/2.85 on the high side versus 2.76-2.75 on the low side. Whichever side of the range is violated and sustained, will trigger follow-through to either 2.90-2.93 or to 2.70-2.68. Given the positive juxtaposition of my nearer-term momentum gauges with the sideways price action, my bias is for an upside resolution to the current pattern set-up. The Model Portfolio is long UGAZ at 11.07.
The stock market had a turn-around Tuesday as the indices, after a sharp up opening, got right up to resistance on both indices, and were unable to break out, They then fell hard to fill the opening gaps. They dropped in a 5-wave decline, tried to rally in the afternoon, the S&P 500 did not make a new high while the Nasdaq 100 did make a nominal-new intraday high. Then they sold off very sharply, taking the S&P 500 down from 2738 to 2722, 15 points, in just a couple hours. They bounced in the last five minutes on both indices, but finished negative on the session. Net on t
Our Technical Analysts Share Their Expertise 24/7 on a Vast Range of Markets!Learn More
Our Free Educational Presentations & Articles Reach Audiences Across Scores of Sites!Learn More