WTI: 54 seems to be the new 55. Overnight activity may be inconclusive for Friday action.

WTI Crude Oil Trading

NQ reached a new high, but it could be building a multi-day top.

Private Island Traders

Red Arrow is boss. Today the robots were loosed and ran amok. Not a safe place for humans. I think Sponge is right about 55 being an attractor--until it isn't.

WTI Crude Oil Trading

We are seeing a possibly brief downtrend that is in a larger uptrend (lows getting higher and highs getting higher) that is in a larger downtrend. The wedge has existed since June--PA has to break out sometime, or maybe just wander out sideways. I ...

WTI Crude Oil Trading

image

WTI Crude Oil Trading

New Red Arrow shows lots of down potential.

WTI Crude Oil Trading

Red action line was crossed today; a new Red Arrow is a possibility if downward movement continues.

WTI Crude Oil Trading

NQ has recovered some from the drop, difficult to forecast with any confidence. But, 7500 is certainly within reach if earnings reports are weak.

Private Island Traders

Alphabet Inc (GOOGL.O) fell short of analysts’ estimates for third-quarter profit on Monday.

Private Island Traders

Reminder Earnings reports are coming out, many released after 16:00 ET. Tech stocks can react strongly, driving NQ. NQ just had a massive drop, likely for disappointing earnings.

Private Island Traders

Good call !

WTI Crude Oil Trading

Failure to break the blue action line could signal trend reversal.

WTI Crude Oil Trading

The IT sector (think NQ) is getting well ahead of its earnings.

Private Island Traders

Definitely. In the 2000-01 crash NQ lost 80% from its then high. A similar crash could drop to ~2000 or less.

Private Island Traders

NQ -- Nasdaq 100 -- after nearly 8 years of expansion, now at 3.6x. It has potentially formed a double top just above 8000.

Private Island Traders

WTI Dec -- end of week, with blue action lines crossed in the advance.

WTI Crude Oil Trading

WTI Dec is in overbought territory on the H4 chart. The Red Arrow on Oct 21 failed.

WTI Crude Oil Trading

The garbage was finally taken out -- didn't you notice the thread smells better? (membership cancelled)

WTI Crude Oil Trading

New Red Arrow.

WTI Crude Oil Trading

The possibility of the Syrian invasion becoming a broad MidEast conflict could be supporting oil pricing.

WTI Crude Oil Trading