Nice follow through in IOC today from yesterday. Solid confirmed monthly A up. Crude also holding a nice bid. I think a lot of that bid is geopolitical.
Market is getting near my A-level as well. Oil went negative for a lil bit. Many of the energy equity names are looking weak here.
Oil failed at my A up as did Gold. ES failed at the top of the daily pivot. Meanwhile the SPY/XLF spread continues to tick higher nice and smooth.
Nothing to do with today's trading activity, but do any of you who follow fisher's method give any credit to what is mentionned in chapter 2 on the plus/minus 30 day rule. Seems kinda fishy to me, that if 30days ago was a plus day, then today should be a plus day because we have volatility or a plus day yesterday. Just wondering, or maybe i'm just not understanding it correctly.
Fisher believed in 30 day cycles. I personally have not seen much to validate this but he does use a 30 day numberline and I have noticed that when you drop off that data point from 30 days ago that is has an affect on the number line. I'm not sure he backtested that idea or not.