This Week, the Plan Hasn’t Quite Come Together
The market finally got oversold, but not in the manner I expected. Let’s see what’s next.
The market finally got oversold, but not in the manner I expected. Let’s see what’s next.
Oil down, transports up. That’s the old relationship. But it isn’t working these days.
We can talk about the Semis and the transports, but it’s the options that are giving the most worrying signal.
The SOX are tracing out a possible double top. Or a pennant. We don’t know yet. But Transports are following oil, which is down.
While the overall sentiment was bearish, not all members feel that way.
Several key sectors broke higher only to finish near session lows, creating potential false breakouts that traders are now watching closely for signs of a reversal.
An up day for stocks. Well, about half of them, that is. Here’s what I’m watching.
The DSI and options trading activity suggest the possibility of volatility on the horizon.
I’m expecting an oversold rally this week. The question is, will it be successful? It depends on these three charts.
The question is, will we get more of a bounce than we saw on Thursday?