Thursday, June 23, 2016

If it's all about OIL; then another Reversal a Sign pre- BREXIT for Risk Assets?

WTI Daily Chart @ Close 06/22/2016
Previous Daily Reversal (Outside- Down Day) witnessed 2 Weeks back signalled a Correction of sorts....to $46.40.
Yesterday's Reversal may well  do the same ahead of the BREXIT Decision later today.
If so; then the 38.2% retrace from $35.24 looms @ $45.40 with the coincident 61.8% of such & larger retrace (0.382 from the $26.05 Low) @ $41.51/ 88 respectively.
Either one of the 3 retrace Levels keeps the Bull Market in Crude 'flowing' for the moment.
Let's see how this plays out.

Wednesday, June 1, 2016

NDX100 Gap @ 4523 Closed amid a 'flurry' of Daily REVERSALS elsewhere.........

NDX100 Daily Chart @ Close 05/31/2016
Gap #1 CLOSED @ 4523 with the January GAP still there for the Closure......BUT First amid a flurry of Daily Reversals in many indices (SPX/ OEX/ NY/ NYA/ DJIA).... ALL posting Outside- Down Days....perhaps a short/ sharp Correction (2- 3%) before the Final Assault (for the NDX100) upon the 4593 Gap that ultimately 'seals the deal'; after which......?