I’m sure most of you have heard the expression “like watching paint dry”, which suggests something that is insufferably boring. Well, Sherwin Williams (a paint company, appropriately enough) has a really boring stock, but it’s the kind of “boring” that makes people incredibly rich:
I took a screenshot of the chart below a couple of hours ago, but precious metals (and their miners) are even weaker now. I think the junior miners could easily slip down to the green tinted area. “Precious” metals are totally stinking up the joint again, being just about the only asset on the planet that’s falling, and the miners are thus falling at an even higher speed.
On SPX this is day three of a daily upper band ride. The upper band is at 2096.92 at the moment and the current intraday high has already tested that. At the time of writing ES has broken over the resistance at the 2092.75 area that has held the last two days, and if that break is sustained I have a working breakout target at 2103.25 that may well be hit. ES Jun 60min chart:
NQ has been trickling up. As with ES and TF there is a fixed 60min sell signal but it’s possible that we won’t see any meaningful retracement until the double bottom target has been hit (target on the chart). NQ Jun 60min chart: (more…)
Just saw this……….
Just wait until self-driving trucks are fully operational. I’ve mentioned it before: truck driving is, in almost every state, the #1 occupation. We live in interesting times.
As for the market………..I guess the bears had all their fun in the first three weeks of the year and since then, blammo, it’s back to the multi-year torture. My interest in trading and the markets in general resembles a graph of the UVXY these days.
I’ve got to go collect in wits and try to dream up some reasonable content for this place. Feh.
Good morning, everyone, and welcome to the end of the week. I’m looking forward to a long weekend, since it’s bound to be more riveting than this volumeless, watching-paint-dry, levitates-each-night market we are in. At least crude oil is continue to soften up………