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The charts have lots to say, lets just look at the charts....
SPX- I have been watching a wedge pattern for months. It looks a lot like it broke down & back-tested (Orange Arrow) It needs to break higher real soon or it will continue to just roll over.
Read MoreI dont always do a Friday report, but things looked fairly interesting today in various markets. There is uncertainty in the waters below and it may be up to the Friday Jobs report to set things in motion. May the picture above emphasize the need to honor stops so we can trade another day .
$TRAN- We've discussed the Dow Theory and "sell In May" concepts. Will Fridays jobs report bring recovery or sell off?
The TRAN also made the 50/200 Death cross.
Lets look at the SPX...
Read MoreI want to show you the chart that I had in my morning report for OIL Wednesday . Please notice that it says that OIL may pull back to either the upper trend line or $59.34. It also could pull back to the 50sma in this consolidation and be perfectly healthy...
So what did OIL do Wednesday and what does it mean? ...
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