SPX has been rallying but will reach resistance soon, possibly as soon as next week. A pullback in February is looking likely with resistance near.
Weekly
WASHINGTON — An American fighter jet, acting on the orders of President Biden and Prime Minister Justin Trudeau of Canada, shot down another unidentified flying object on Saturday, Canadian and American officials said, in the latest installment of the drama playing out in the skies of North America.
“I ordered the take down of an unidentified object that violated Canadian airspace,” Mr. Trudeau said in a statement posted on Twitter. He said an American F-22 with the North American Aerospace Defense Command, which is operated jointly by the United States and Canada, downed the object over the Yukon Territory.
I'm bearish oil and gas shares short term. So BOIL could see lower but likely just short term. I'll watch this one. Once GUSH goes under $100, BOIL may be a good trade.
So next week may make sense to look to book profits.
ReplyDeleteBottom of channel in March?
DeleteI don't think it'll be too deep. February pullback in SPX and then can go to higher highs.
DeleteSCJanuary 26, 2023 at 1:34 PM
ReplyDelete"Markets starting to thaw. SPX breaking up through 4,000"
SCJanuary 27, 2023 at 6:46 AM
ReplyDelete"Yes SPX daily Golden cross is imminent."
SC, what do you think about vix? What your target for SPX?
ReplyDeleteVIX should form a low soon around 15. SPX a high next week and pullback. 4,000 is now support though. SPX headed towards 4,500.
DeleteUVIX already is starting to look better
ReplyDelete"U.S. shoots down second ‘high altitude object’ days after Chinese spy balloon"
ReplyDeleteFeb. 12, 2023, 12:06 p.m. ET
ReplyDeleteWASHINGTON — An American fighter jet, acting on the orders of President Biden and Prime Minister Justin Trudeau of Canada, shot down another unidentified flying object on Saturday, Canadian and American officials said, in the latest installment of the drama playing out in the skies of North America.
“I ordered the take down of an unidentified object that violated Canadian airspace,” Mr. Trudeau said in a statement posted on Twitter. He said an American F-22 with the North American Aerospace Defense Command, which is operated jointly by the United States and Canada, downed the object over the Yukon Territory.
Climbing the wall of worry...
ReplyDeleteAny thought on BBBY?
ReplyDeleteI figured BBBY would come down to $2 and it has. Now I'll looking closer for where to make the next trade.
DeleteSold UPRO $39.80.
ReplyDeleteDRIP looks ready now.
ReplyDeleteAny thoughts on BOIL?
ReplyDeleteI'm bearish oil and gas shares short term. So BOIL could see lower but likely just short term. I'll watch this one. Once GUSH goes under $100, BOIL may be a good trade.
DeleteNew chart posted!
ReplyDelete