Keeping An Eye On Things

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This was a great week of trading. Oil broke out and  all of our energy stocks put in some strong gains as expected.  My call in NATGAS played out exactly as outlined , and this could play out nicely for traders this week too.  Lets look at some charts and see how things went in other sectors too , and what we might expect moving forward.

 

SPX - I have been showing a bearish rising wedge pattern, like in my April 10 chart.  We had more upside, but then the markets did start selling off Friday.  Is that it?

SPX 4-10

 I also want to show you something else.

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Bulls-eye

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SO far our ENERGY picks have been right on target.   What I was looking for in Natgas for the past few weeks has also taken place perfectly.  Gold & Miners? We'll discuss that too, but first lets quickly review the Equity Markets.

 

SPX is really in a tight spot. It needs to break higher soon. Will we get a pullback and a surge in commodities?

  SPX 4-15

Does the NASDAQ look any different? There certainly was no shortage of break outs in Tech yesterday...

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A World That Runs On Energy

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Prices fluctuate and sometimes get extremely overdone in either direction, but the Energy  needs of this planet are not going away. Thats the main focus of this report, but first let me address the reversal in the markets today.

QQQ -  I have been pointing out the WEDGE pattern in the NASDAQ, SPX, etc.  Today I just want to point out an observation with todays reversal on the 10 sma.  It looks like Markets want higher prices again.

QQQ 4-14

The SPX was similar , but I want to point this out on the IWM/IWC before moving on to Energy and Metals mkts...

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