April 5 – Resistance

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Wednesday when the Oil inventory report was released, Oil reacted to a resistance point. Later in the day, when the Fed Minutes were released, various  markets also reacted to their resistance points.

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NYA April 4th - I've been a bit cautious about the General Markets and pointed out the  charts of the NYA & the XLF . Let's take a look ...

NYA APRIL 5th - The move higher has had weak divergence, and it was turned back again Wednesday at resistance.

XLF April 4th - For almost 2 weeks I have been pointing this out as a reason that I am not overly Bullish about the markets at this point. This needed to recover for me to feel a bit more comfortable going long.

This was the XLF on Wednesday

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April 5th – Still Waiting

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NYA - The markets look set up to break out higher, but we need to see some signs of strength.

You recall that I've been watching this...

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