Spygrain I thought about this after I logged off, how I was so sure last night. Define my own "intuition". Technical's don't move the market, they're more like fences. Psychology moves the markets. Where does that psychology come from? Right now, the 24/7 news cycles, and from that you take the temperature of the herd based on years of experience watching said herd move. I know many here have lots of tools that work for them, and that's all good... but if I may make an analogy, you can have climatologists and meteorologists armed with terra-bytes of data and artificial intelligence.... but in the spring when the weather is iffy, its always the old farmers that nail the right week as to when to plant their corn and not get it washed away or killed by frost. How do they know? They watch nature. They know nature.
Can this be the buying opportunity of the week here? Everyone starting to get pretty bearish... Something to think about.
It's throwing bean bags at targets in the back yard rather than playing catch with lawn darts. I certainly would use them if I were to be looking to live market test a new strategy. I think @speedo uses them when testing under live fire before he brings out the nuclear weapons as well. Good luck today!
Could be. However, I think there's a strong possibility we'll see 2870 in the AM today. EDIT: I'm currently flat
“What we're seeing right now is the head fake before another surge in CV (crude volume) that pushes storage to maximum capacity & oil prices to new lows,” said a weekend tweet from Art Berman, who has nearly 22,000 followers on Twitter, made up mostly of oil and gas professionals. A petroleum geologist-turned-investment analyst with over 35 years in the business, Berman specializes in the study of comparative crude inventory. In his words, the current rebound is “reminiscent of the March-June 2015 false oil-price rally, before markets accepted that things weren't going back to the way they were before.” Five Oil Rallies In Past Two Years Have Failed Berman lists five major oil rallies from mid-2018 to this year that have prematurely fizzled: 1. Iran export waivers in Oct 2018; 2. Attacks on ships in the Gulf in April 2019; 3. OPEC+ cuts extension in July 2019; 4. Saudi refinery attack in September 2019; 5. OPEC+ extension, China-U.S. trade deal and Qassem Soleimani assassination. “What are the odds for Rally #6?” he asks, predicting that U.S. crude’s potential run to mid $30 levels will be “followed by sub-$20."