Weekend update

REVIEW

The week started at SPX 2779. After gap down openings on Monday/Tuesday the market traded down to SPX 2743. Then after a gap up opening on Wednesday the SPX reached 2775 before heading back down to 2744 by Thursday. Friday had a gap up opening, which was sold in the afternoon, and the SPX ended the week at 2755. For the week the SPX/DOW lost 1.45%, and the NDX/NAZ lost 0.75%. Economic reports for the week were mixed. On the downtick: the NAHB, building permits, existing home sales, and the Philly FED. On the uptick: housing starts, leading indicators, and jobless claims improved. Next week: Q1 GDP revision, personal income/spending, and more housing reports. Best to your week!

LONG  TERM: uptrend

Lots of chatter this week about OPEC and Crude oil. In the end the Russian/Saudi cartel raised production 1m/bbls per day, and crude rallied $3. Guess the increase was less than the market expected. We last wrote about Crude in August 2016: https://caldaro.wordpress.com/2016/08/23/crude-and-the-commodity-cycle/. What was said then, at $45 Crude, still applies. We are expecting a bear market rally high to reach between $70 and $85 by the year 2020. Then Crude will turn lower, and probably return to $25 around the year 2026. Since Crude has already hit $70 (May18), the $85 level is more likely to occur by 2020.

Nothing has changed on the long term count, as you can see by the weekly chart below. A Major wave 1 bull market underway, with all but Intermediate wave v to complete. Intermediate waves i and ii ended in the spring of 2016. Then Int. iii divided into five Minor waves. Minor waves 1 and 2 completed in the fall of 2016, and Minor waves 3 and 4 ended in the spring 2017. After that a very long Minor wave 5, completing Int. iii, in January 2018. Int. wave iv followed with a 3-month flat ending in early-April. A choppy Int. v has been underway since then.

MEDIUM TERM: uptrend

While the general market has been in an uptrend since early-April, only the NDX/NAZ has looked impulsive while the SPX/DOW displays a lot of internal chop and overlapping larger waves. Guess one would expect this type of outcome, if they expected the NDX/NAZ to have a blow off fifth wave while the SPX/DOW formed an ending diagonal triangle. It’s a possibility.

Unfortunately there are a lot of possibilities at this time medium term. The long term target (SPX 3000+ by 2018+) remains on track. For now we continue with the short term count posted. The recent rally SPX: 2677-2791, appears to be just part of Minute iii, possibly a Micro wave 1 and 2.

SHORT TERM

While we do have a Minor 1-2, Minute i-ii, and now possibly a Micro 1-2 posted, we have been noting that the internal structure of these waves looks choppy compared to other uptrends in the bull market. Currently we have three waves up from SPX 2677 (2729, 2701, and 2791). After that three waves down, which may be a fourth wave flat (2743, 2775, 2744). SPX 2729 is a key level in this structure.

If the market rises above 2791 it starts to look impulsive. If it breaks down below 2729 the corrective activity continues. Short term support is at SPX 2742/43 and the 2731 pivot, with resistance at the 2780 and 2798 pivots. Short term momentum ended the week with a positive divergence. Best to your trading!

FOREIGN MARKETS

Asian markets were mostly lower and lost 1.6%.

European markets were also mostly lower and lost 0.9%.

The DJ World index lost 1.0%, and the NYSE lost 0.6%.

COMMODITIES

Bonds could be uptrending and gained 0.1% on the week.

Crude also could be uptrending and gained 5.4%.

Gold remains in a downtrend and lost 0.6%.

The USD remains in an uptrend but lost 0.1% on the week.

NEXT WEEK

Monday: new home sales at 10am. Tuesday: Case-Shiller and consumer confidence. Wednesday: durable goods and pending home sales. Thursday: Q1 GDP (est. 2.3%) and weekly jobless claims. Friday: personal income/spending, core inflation, consumer sentiment, and Chicago PMI.

CHARTS: http://stockcharts.com/public/1269446/tenpp

About tony caldaro

Investor
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516 Responses to Weekend update

  1. My only advice goes back to what Ira always says–which is,a 1% or greater move on Monday,is usually reversed on Tuesday.Countering that,China says it will “punch back at US tariffs.”If we DO get a bounce tomorrow,probably a chance to sell,though we’ve been in whipsaw mode most of the year since March.Gold,feeble with DXY down.GL all.

    • alexh110 says:

      Couldn’t today be a washout low for Micro 2?
      Hourly MACD has hit the same level as the late May reversal.

    • quickrick38 says:

      Thanks jobjas

    • Billy says:

      JJ your black C is longer than your black A. That means to attain your diagonal your black D also needs to be longer than your black B. You have the black D overlapping black A but that is not enough by itself. Should your black D become longer than your black B then black E will also need to be longer than black C. SPX and DAX both had the potential set up for 3 of 3 down moves at the end of last week. So far 3 of 3 down appears an okay count. Could be 3 of C as well. DAX futures right at the 61.8% retrace presently after having already pierced that level by 30 points. This potentially opens the door to a full retrace for the DAX. Something to consider if stocks do not reverse with some authority soon.

  2. stan911 says:

    Gaps up above 2745 2769 and 2783 below 2708 and 2670

  3. Thanks Tony
    Dow back to 24k,where it had broken trendline(triangle upper trendline)
    if it does not hold,pullback and probably will reach triangle full target at 21,6k
    refuse 3 times to brake 24,9k forming a wedge
    https://invst.ly/7u5iv

  4. mcgcapital says:

    Think post close bounce here at 7510.. stop 7500 on FTSE. Target 7540-60

  5. lunker1 says:

    Slught change. I like 2690-94 better for Micro 2.
    .886 2690
    midway pivots 2694

    • lunker1 says:

      see Aug ‘17

      • alexh110 says:

        Had yet another attempt at a long at 2704 based on your earlier call, and double +D on 10 minute chart.
        Is there actually any need for a change in the count here?
        Today looks OK as a Micro 2. Bit severe; but I put that down to 5th wave chop.

  6. schizo1688 says:

    Re-short around 11am , this is too easy

  7. It looks as if a head and shoulders top has developed on the 10-year T-bond.
    http://stockcharts.com/freecharts/gallery.html?$TNX

  8. 2680 line in the sand for me. break that and bears are in full control.. i will be looking to buy in that area. Good luck all

  9. China and the EU joining forces economically. Gee, who thought of that? Now we watch the master negotiator double, triple, quadruple down. Let the games begin.

  10. Lee X says:

    Hey guys and gals

    There are many ways for you to express your ideas with out posting trades so I don’t want to single out Phil as he’s not the only one.

    Obviously the short term count has changed and emotions and the gotchas will be elevated, try and play nice 😉

    • fenster6 says:

      I think posting trades is actually very useful Lee
      It takes it from talk to action.
      And also find Phil’s posts useful. He has called the short term turn in the market pretty well.
      As to the count being wrong, we have been here before, no big deal. There will be another count soon I am sure.

    • H D says:

      Lee X, hey amigo, just wanted to say thanks for all the contributions here over the years and introducing us to the /ES.
      Best to you and yours!

    • randomacts4 says:

      Well said, Lee, agree in full.

  11. alexh110 says:

    Trying another long at 2720, since it sits on the 62% retrace. Very tight stop.

  12. stcoleridge says:

    But, but I thought the R2K was a safe haven?

  13. jobjas says:

    Utilities final wave up ?

  14. lunker1 says:

    Tonys 2729 violated
    non oew 5 up from 2677
    W3 2780
    W4 2760
    W 5 2791
    now micro 2?
    I like 76.4% at 2703

  15. schizo1688 says:

    Thanks AAmicheal for your analysis.. I position my self 80% short before the market close last Friday.. cover most already.. ready to re-short after 11am

    • fionamargaret says:

      I keep taking profits too, but I have been short since around 2900……think 2465
      I used Tony’s sequences and this was the pattern I kept coming up with.
      I gave the outlook for different shorts last week…BA, GE, CAT etc….scroll back on Tony’s other updates to get the full list….

      • fionamargaret says:

        …and I know gold is not very popular but there is a real possibility for gold to go to 2500…depends on DB EEM, and currencies….UGLD, GLD….and the long bond TLT looks good too….x

  16. H D says:

    ahh the internet…. Pivot time! (55)+ point hit! Don’t think I can remember a time when the bears were ridiculed more than they were this month, right at the TOP of the wave, again. Classic EW.

    June 12, 2018

    not 1 but 3 of the wavers here posted the count, max point distances, retracements levels. All spot on! Don’t let the heavy posters talk you out of the good set ups. Tony’s pivots and fibs.

  17. phil1247 says:

    DOW canary is the key to all

  18. mcgcapital says:

    https://www.google.co.uk/amp/s/www.bloomberg.com/amp/news/articles/2018-06-25/as-trade-war-looms-china-wonders-whether-it-s-up-for-the-fight

    Just a bit of a side note on the fundamentals. Over the last decade, global growth has been very dependent on China to lead with the west struggling post financial crisis. We saw what happened in 2015-16 when it appeared that Chinese growth was slowing, globally risk assets started to come off. The Chinese have always been able to kick the can so far, but from the limited data we’re given their economy doesn’t look all that healthy and sustainable to me. It’s basically dependent on never ending increases in credit and the government subsidising inefficient industries which is the main reason for the big oversupply in some commodities such as steel which has brought this trade war to a head.

    If you’re of the view that there’s a credit bubble over there, then this so called trade war could be the end of it. Maybe they back down and come to some sort of agreement with the US. But even if they do, it could be a negative shock to their economy. If there’s a problem in China, you can’t count on US growth just continuing on its present course, the global economy is too interconnected now. I still feel like the whole system post 2009 is too fragile.. the level of debt makes it vulnerable.

    I just have a very bad feeling about all of this and where it leads. For me the market has been telling us something all year as gains have been hard to sustain. It’s a time to tighten up risk management. There’s going to be decent trading opportunities in both directions but it’s not a buy and hold environment so holding and hoping for 3000 SPX is going to be a losing strategy to me.

    • Yes, very good points.

      And of course, we still have a small stable of “nail-biters”, should the economy unwind.
      As John Donne famously said “No man is an island“.
      I think a fair corollary is “No bank is an island.” When a bank slips, all the counter parties start to slip too.

      After nearly 10 years of heavy financial intervention by Central Banks, how can it be that we still have a basket case like DB, 17th largest bank in the world.
      What are these Central Bankers thinking?

  19. NEWBIE says:

    Anybody trading IQ?

  20. Just got off the phone with ppt. They assure me all is well and we close green today. Lightnstaffed due to summer acations.

  21. phil1247 says:

    esu8
    possible front run of 38 target at 2739
    now bearish below 2757.5 otherwise
    door is open to full retracement to most recent high.. ie choporama

    • floyd drummer says:

      phil,

      have my own anchors as well, …i saw that trade this morning.
      i saw you anchor a similar situation awhile back.

      again, …thx for posting those charts!

      • phil1247 says:

        welcome floyd

        but CL is much more interesting than ES

        • phil1247 says:

          also “King” dollar could get interesting
          if 94 gives way

        • floyd drummer says:

          you are correct, …CL > ES.

          i only trade the ES, …mostly through chop (…no surprise there).
          i try to “stick to my last.”

          you can get to like the chop, …though i would not recommend it.

          • gary61b says:

            ES short set up in an ext. rules say no ext. going down. set up was at 2747.25/2749
            will see if it works.. I have 66/70.75 as hwb and LIS.

  22. E says:

    I like your optimism guys but I doubt this is a triangle. The bearish count is quite clear and we are likely transitioning to minor 3 down all the way to 2450 or lower now. All indexes will break through 200dma this time. Triangle will come into play later, ie. September 2018 thru 2019, after most perma bulls have been crushed, just like Bitcoin.

    • quickrick38 says:

      Indeed E…that IS the other possibility, which I have always counted as the higher probability vs the triangle. That would simply find the market dropping through the triangle support and instead of the triangle the overall count would be an abcABC. The reason that I lean that way is that in most cases these higher level pullbacks usually have the ‘C’ wave dropping below the ‘A’ wave. We’ll see. But I agree with you.

      • quickrick38 says:

        I can picture the scenario where the big money boys on wall street shape the market to look like an abc down to the floor of the triangle (support line) where the supposed ‘c’ wave is nothing more than the wave 1 of 3 on the way down. They’re like that you know. 🙂

    • mcgcapital says:

      The perma bulls have a day of reckoning ahead regardless of whatever this market does. We’re late cycle, there’s a bear market coming whether it’s already started or starts after another up leg. Can already hear the excuses (‘but the A/D line showed…’) after the first 20% down. If someone has a process that doesn’t involve just reacting to price then they will always get steamrollered in the long run. Ridiculous amount of complacency at the top of the trading range recently. Not breaking 2800 was a signal to move to the sidelines or be short

      • Agreed. and you see that too…

      • chrisk44342 says:

        Not sure about the longer term stuff but i agree that not taking out the top of B wave of the consolidation is not constructive for higher prices. Doesnt mean it won’t happen next week however.

        • mcgcapital says:

          Agree Chris, I’m not saying it won’t do, perfectly possible it builds support somewhere above 2700. But ball is in the bears court now, if you’re long it isn’t obvious where this stops yet. The way some people trade they’re reliant on it always going up as they don’t react.. eventually their luck will run out whether it’s now or somewhere down the line

      • floyd drummer says:

        mcg,

        i have been working more on risk/reward, and less on probability (as far as trade location goes) , …have found better trades with longer holds.
        thx

        • aahmichael says:

          floyd, you have mentioned that you’re a beginning trader, however, from your posts it seems as if you’re learning on the fly with real trades and real money. I always suggest to beginning traders they they should spend time creating a mechanical and automated trading system, then trade it on paper, and only after both of those things have been done successfully should they go live with real trades/real money. Everyone has to pay tuition to the market, but if you learn on the fly, the tuition will be much higher.

          • mcgcapital says:

            But would also say the emotional elements not the same if it’s not real money on a demo. Maybe it works best to use low leverage but not be surprised to lose money at the start. Either way, last think you want is to be doing full leverage if you’re unsure of your trading process

            • aahmichael says:

              No doubt things change when you use real money, because your emotions will get in the way, however, if you don’t have a winning mechanical and automated system to start with, and if you haven’t proven that you can execute that system in real time but on paper, then you will have zero chance of success when you start firing live bullets.

              • chrisk44342 says:

                For retail traders, a ‘mechanical and automated’ system rarely works. Why? Because they are optimized under ideal conditions, and typically are curve fitted to reflect optimal profit. This is the way on-line trading strategy vendors perpetuate the myth of mechanical strategies being good for you. Being successful in trading is not a result of using a mechanical system vs. a manual one. It’s the result of patience and experience. If it were as easy as deploying a robot I would have done it years ago, believe me.

              • aahmichael says:

                I disagree. I’ve written and developed many different mechanical and automated trading systems over the past 35 years, and they all work just as well today as they did when they were written. You’re correct that many people over-optimize and curve fit, but that’s their problem, it’s not a required feature of an automated system. Very few people are successful discretionary and intuitive traders. Everyone needs a system and a methodology of one kind or another. Otherwise, they’re just flipping a coin and gambling.

              • Anne Day says:

                There is also the question as to how much time you would really like to put into trading.
                To my chagrin, my passively managed account seems to always beat my actively managed one by a significant margin.

              • chrisk44342 says:

                The obvious question is ‘why’? 35 years worth of mechanical and automated systems that all work as well today as 35 years ago. That’s great. Why not use the one(s) that’s successful and continue building automated systems? Most of the automated systems are built around trend following and that kind of system, unless traded on really long time frames, don’t hold up. I have seen many, tested many. If you are trading on 4 hour or daily swings then so be it.

              • aahmichael says:

                Maybe the only systems you’ve seen have all been trend following, but that doesn’t mean all systems are trend following. A comprehensive system should have both trend following and countertrend components.

          • floyd drummer says:

            aah, mcg…

            tuition has already been paid, …unfortunately.
            you are correct, …it is just one of those things you pay.

            i approach trading as a novice, …each trade and the trading process in general.
            i always question …and always ask, ……so enlight of those two tendencies, i probably sound a bit green.

            i do agree, ..real time and real money is real: it teaches well, …all too well!
            success does not teach what failure does, …one just has to be sure that their failures are not fatal.

            …..too much leverage is not good for anyone. period.

            …and poor stops, …either.

  23. QuickRick:
    Thanks for that insight. It would take a 155 point drop in the SPX for that to occur.

    • schizo1688 says:

      i guess no more side-way chop like phil said …hehehe

    • quickrick38 says:

      ‘Welcome, don’t forget the ‘e’ wave has to be an abc…in this case a rather large one. 🙂

      • quickrick38 says:

        Also, in these situations the final ‘C’ wave down is usually a well structured 5 waves.

  24. ABC: Thanks for the chart and analysis. What would it take for the SPX to conform to the Dow pattern, if possible at all?

    • quickrick38 says:

      george, not speaking for 123abc, but not only is it possible but at this stage I would give that a higher probability…duplicating the triangle of the DJI.

      All the SPX has to do is keep dropping to the support of the triangle (near 2600). And, I give it a higher probability for these reasons: Not only did the ‘c’ wave fall short in the diagonal, but the ‘d’ wave does not have the requisite 3 wave structure of a diagonal. In fact it appears to have the 5 wave structure of a ‘c’ wave which would fit the triangle pattern where the ‘d’ wave is a double ‘abcABC’.

  25. quickrick38 says:

    In the following chart the ‘?’ indicates the area from the early April low up to now where no one seems to really know how to count this mess…at least not with any high degree of certainty. Lots of back and forth thus far about impulsive or not. Various counts…however, just tonight the ES is showing a breakdown – which just occurred in the futures market.

    Looks like we’re going down, perhaps initially targeting the 2731 pivot area before any kind of a retrace. This could get really interesting.

    • The top of this wave was early on the 13th. This suggests the 26th or 27th should be the low of this drop. I base this on the assumption it will be steep and similar to the last 2 drops in duration. A 2 or 3 day drop in the 2500 area? Wishful thinking on my part? Probably.

  26. 123 abc says:

    A couple of alternative thoughts differing from the current OEW count…

    —DOW would suggest an ongoing Triangle pattern for Intermediate-iv wave (first chart).

    —SPX would suggest a Leading Diagonal commencing Intermediate-v wave (second chart).

    Taking out the Feb low on either would probably suggest Major-2 bear market underway.

    DJI

    SPX

    BTC

  27. cj32 says:

    Cr. to CBZ

    • cj32 says:

  28. bouraq says:

    Chart of the day is #SILVER at http://www.tradingchannels.uk

  29. phil1247 says:

    Tony

    you believe that the dollar will fall below 88.15 in the next wave down

    is this correct?
    thanks tony

    • Ashley says:

      Short term I could see a pullback to $92-$93 then $96-$98-$95, basically make an inverted H/S that would target the $100 range….

      Why a King Dollar bull???
      I
      Is reducing the trade deficit bearish for $????
      Is QT which will ramp up bearish for the dollar?
      Are rising rates bearish for the $?
      Is record treasury issuance bearish for the $??? (foreign countrys need $$$ to buy our
      bonds and they need to sell their falling currency’s to buy dollars) 😉
      Are trade tariffs and uncertainty over trade agreements bullish or bearish for King Dollar???
      How about the EM’s like Brazil, India, Ect seeing capital flight into the dollar???
      Then there’s all the mess in Euroland….

      Give me some bearish fundamentals for the dollar please???

      As far as stocks go I see the markets going up in a slow boring grind into the bullish end of quarter, first half and the 4th of July…. Then lets just say Im looking to get really short .)
      So yes maybe ST pullback for $$$ then the election season starts full press allong with what I believe will be deteriorating earnings guidance and economic numbers worldwide…

      I love charts but the fundamentals and math do matter eventually .)

      • aahmichael says:

        Stocks have gotten hammered with the end-of-month QT in each of the 5 previous months this year. The EOM QT for June will occur on 7/2, because 6/30 is a Saturday. $18bn will come out that day. QT increases to $40bn per month starting in July.

      • torehund says:

        Oil looks that it might be in a w 3 from bottom and could go to 140 a barrel. In that case one would expect the dollar to close the gap vs many currencies fully. Sure it could already be Greenback prime time, but beware of oil🤐

      • phil1247 says:

        thanks tony

        agree that the dollar will continue to fall
        eventually down to 59

        that should send the dow well over 50, 000

        well on the way to your 100,000 DOW target

  30. fishonhook says:

    Posting up here so it doesn’t get lost

    Phil any target for the USD b wave?

    Anyone have a good count or opinion
    On CAD or Golds charts

    Thanks

    • phil1247 says:

      hi fish….
      b wave in dollar could be done now
      or could continue to 96 to 98
      i see the rally up the bollinger band as wave 3 and the last surge
      to touch the band before reversal as wave 5
      (momentum peak and then price peak)
      the key will be to see shorts that stick on the way down

      target is 84.5

  31. Arthur Knopf says:

    SENTIMENT UPDATE: An Important Top May be In
    http://sentimentsignals.blogspot.com

  32. stormchaser80llc says:

    Check out my FREE and OPEN blog page for the latest information on market trends. Please sign up for a FREE login should you want to read daily postings that are more actionable for trading.

    Best,
    Stormchaser80
    navigatethemarketstorm.com

  33. Ashley says:

    Thanks Tony great to see your updates again and I hope your feeling better

  34. phil1247 says:

    CL

    gary and asa

    “straight up or not at all”

    • Hi phil don’t trade CL.

      DH has /VX testing it’s 50% LONG at 14.30 which would suggest additional weakness in /ES, perhaps down to a profit target at 2738. What do you see?

      • chrisk44342 says:

        Hi Asa,
        My thought on this (no, i am not phil, nor do i play one on tv) is why confuse the issue with another index. Does volatility follow the market or the other way around? To me you talk yourself into a perpetual state of second guessing and that is not healthy for trading results. Maybe DH is better at defining a system than he is at trading it?

        • chrisk44342 says:

          …so I will go along with your thought- that this is a daily long until proven otherwise. I don’t trade daily charts or even considering them during a day session but it’s worth noting.

        • Good morning chrisk…Good question. As DH states…”I look for free or reduced risk trades”. Ideally, I enter long positions when ES trades at the Fibonacci 50% long, the tick is <-400 and I see the arrow up forming on the tick chart (always with a tight stop). To increase the probability of a profitable trade I look at what the /VX is doing. For the past few months /VX has been very, very highly correlated with /ES. In fact, /VX has been leading indicator for /ES trading. This has helped me in my trading and I wanted to share this with the group.
          I posted a great example of this Friday morning with 3 posts starting at 6:44 AM EST and I refer you to them…very instructional…. The /ES futures were +11. Sound great? Maybe thinking about going long on Friday? Well, as I posted, I was bearish.."Futures are in a bearish trend as long as it stays under 2770.64". So, going long may not be a profitable trade. Why did I make that statement? /ES at that snapshot in time, was testing and defending it's 50% SHORT and /VX was testing and defending it's 50% LONG. IMHO, this analysis suggests weakness ahead for /ES. As you know, the /VX closed Friday at around +5.
          I will try and post the charts below but going back to read my commentary is more important. Hope this clarifies my posts.


      • phil1247 says:

        i see es/spx as a bunch of crap going sideways
        aside from the occasional smash and grab intraday
        i am not that interested in spx now

        • phil1247 says:

          its the same old story asa
          if its not in an extension
          i am not that interested
          i dont like choporamas

          • Hi phil…agree!…If you recall, I took swing trades LONG a few weeks ago. Haven’t done too much day trading. Got out of all longs on a few days ago. If SPX is in wave 3 we shouldn’t be seeing this kind of choppy price action. More importantly, recent price action, coupled with comments from Trump/China/Mexico/Canada/E.U. and tariffs/retaliation had me concerned about my long positions. . When Trump hinted at tariffs on E.U. automobiles (I think on Tuesday) coupled with choppy price action, early last week, I decided to sell…as it turned out Trump did impose a 20% tariff on E.U. cars

            I’ve been watching Souls/ABC’s charts on SPX and I came to the same conclusion a few days ago that ABC suggested (Thursday night) as possible alternate EW counts.

  35. Page says:

    Thanks Tony.

  36. Bill Manscoe says:

    Thanx Tony. Hope you are progressing against an insidious condition. The blog is obviously very healthy based on the ting/yang of opinions. 5th waves are always interesting. Be well.

  37. jobjas says:

    Thnx Tony for the update.Continue to view SPX as an ending diagonal with all the choppiness and overlaps.Patience needed while the waves play out .

    • jobjas says:

      While crude is on a long term uptrend , in the short term should visit $ 60 area ,after completing the present wave to around 69.5. News and events can exaggerate a short term wave count but the overall direction and longer wave needs to complete before resuming uptrend.

      • schizo1688 says:

        Agree, I took a beating after I bought SCO at $17.98.. it was gambling on opec news .. LOL.. but I am still looking forward for CL to trade around $60 by end of July ..

  38. hi Tony short time high in for oil?

  39. ko68 says:

    Thanks Tony

  40. Lee X says:

    Hey thx for the CL update dude 😉

      • phil1247 says:

        Tony

        they agreed to 1 million MORE barrels of production
        and CL rockets up?

        but but but ….. the NEWS ?????
        you mean we cant trade the news?
        doesnt the news matter ???? 😉 😉

        • Ashley says:

          Just look for the shorts and blow em out in a squeeze everywhere, with FED QT and rate hikes and the rest of the world falling apart shorts are the only bid left as shown yesterday…. There will be an ongoing King $$$ shortage, Tony says USD is in an Uptrend and I agree….

          • phil1247 says:

            ashley

            re: KING Dollar

            Tony has this dollar rally as the b wave rally after 5 waves down in wave a

            when complete ” KING dollar””
            should break below this years lows
            at 88.15

            Tony

            correct me if i am wrong about your stance…..
            thanks !

        • They already sold the news the previous week.There’s this theory called,”Sell the rumor,buy the news.”This and other stock tips are in my new book,”Phil is Always Right”,available on Amazon.

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