I see a significant pullback this coming week, possibly testing the 110 level. Even though I believe the best way to play this market is on a 5 min or less chart, I am getting short looking for a stronger dollar to pull out some of the inflation hedgers.
How convenient I just read on some other message boards that two major pipelines were shut down this Monday morning and thats why we are spiking? Anyone have any news if this is true or not?
judging by the chart at this point...it didn't! hmm easy to move cl in overnight trade based on a rumor!!!! if it is true..it obviously is pretty much a non event.. all you ahve to do is look at a 5 min chart and get yoru answers.. all news is displayed in price and volume on a chart.. i.e. look at nasdaq mini futures after the close on thursday... if you knew nothing about google earnings being good or bad.. you could look at the NQ m8 chart at 14: 03 + and say .. wow gogole reported today..,. it must have beat estimates in a huge way!