Energy Bull?

I want to discus a few things in todays report, and then I will have a small ton of charts & Set ups in Energy and Commodities.  I will start with the markets and their nice run higher lately. I did mention that the IWM, TRAN, and the IBB  looked to be lagging a bit.   IWM had a bullish set up and popped higher, but it hit another short term resistance area. I wanted to see a pop higher if it is going to possibly play catch up. 

This was the IWM at that point on Oct 30.  I expected a break higher.

IWM 10-30

IWM Nov 3 -  We got he break higher ( Note: We may back test that break soon). 

IWM nov 3

Lets look at the NASDAQ before we discuss Energy, The CRB, & The Precious Metals...

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Reversals

We had some nice reversals in certain sectors today, so I wanted to share a few ideas here with that in mind.  Some ideas are Bullish , and a few cautionary notes in there too. This is your Tuesday morning report a tad early.  🙂

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Action And Reaction

It was a Fed Week and the Action (or lack thereof ) and reaction were somewhat expected. Lets look at our week in review. 

Thursday I mentioned that I found it surprising that the USD & CRB were both moving together Post Fed.  Was one faking it's move?

USD 10-28 CRB 10-28

Now lets take a closer look...

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