Wolfgangrene's charts Message Board

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Strategies & Market Trends : Wolfgangrene's charts

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To: benwood who wrote (3772)	12/17/2018 3:28:28 PM
From: wolfgangrene	Read Replies (1) of 3976

Hi benwood, Yes, altho I like to see the adx get above 50. I think the price of oil will decide where this turns. When I scan for pinchers these days, 75% of them are oil industry stocks, some so extreme that I wonder if many will close down unless oil itself turns up. I've been watching USO. It's the pincher did spread apart, but only bounced about .75 before it dived down again. The ppo/adx will likely repinch together again. I know the oil stocks will turn hard at some point, responding to a turnaround in oil, but I just don't know when. I was expecting it a week ago.

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