John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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roguedolphin

sixty2nds

The Ox

To: isopatch who wrote (17317)	11/6/2015 12:16:55 AM
From: John Pitera	3 Recommendations Read Replies (2) of 33421

Daily Crude Chart looking bearish....with the action the past couple of days... after topping at $48.33 a couple of days ago.... Crude has softened and has fallen back below it's 50 Day MA and it's 21 DMA... It's giving a renewed sell signal on the RSI Multiple Moving average Cross over system and the stochastics are below 50....let's see if some heavy selling develops over the next few days. I would have liked to see Crude get closer to it's 200 dma and the commercials were selling it a buck lower than the early Sept rally to $49.33... I was going to post a few charts of the XLE and several drillers and the majors like XOM, which is above it's 200 day ma an CVX...which got above it and then rolled over the way Gold did a few weeks ago. Let's see if some significant selling pressure on Crude does in fact develop over the coming week. John d The USD is right up at the top of a sideways consolidtion range.... is it ready to break out.... maybe not yet. The LQD.... high grade corporate bond etf has sold off quite a bit since reaching a reversal that really kicked in on Oct. 27th

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