AUG 21 Weekend Report

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Looking forward...

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SPX - The squeeze on the Bollinger Bands usually leads to a strong directional move.

SPX 8-20 b

You can see that we are consolidating in a bit of a triangle / wedge and heading into the apex. A break out 1 way or the other should occur soon. A break out higher could lead to a runaway move ...

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The Force Awakens

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And as predicted, it is a force to be invested in  🙂

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WTIC - Many doubted that Oil could come back so quickly, some on CNBC were saying that it would not make it past $44.  With an ICL in place, there is no doubt that this chart shows us....The Force Awakened. 

wtic 8-18

We have been investing in Oil/Energy since I pointed out some nice set ups over 2 weeks ago. Some of these gains are already satisfying. Is this it? Will Oil only double top like I hear some saying? I will discuss the potential briefly here and in the weekend report.

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Thursday August 18

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Today the Fed Minutes were released. Could you tell?

FED MIN

The SPX sold off and then recovered the 10sma.

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