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I honestly had no idea that there were still dry counties left. Check out Arkansas!
Oh, and on an I-need-a-drink note……….the quote feed is having trouble (not just us, widespread) so you may NOT see today’s price bar in your charts. For me, that kind of nukes my trading day, so I’m checking on it constantly to see when it’s fixed.
In my last post on Tuesday 7th January I was looking at the bull and bear options at the inflection point that had been forming on US indices over the previous few days. On Friday the US indices closed at the bottom of the inflection point and I was talking about that on my The Bigger Picture webinar last night, and what might be in store for us today.
Since then, at the time of writing, ES is down 45 handles, which is a clear break down. Are the US indices now resolving to the downside? Not quite yet in my view.
I was mentioning in last night’s video that there was very little positive divergence on US indices at the close on Friday, but that this could be fixed with lower lows on positive RSI divergence this morning. As I write there are now possible hourly buy signals brewing on ES, NQ, RTY, YM.
(more…)It’s looking like a good day, but let’s start with the one bit of ugliness: oil. It shot up instantly on Sunday, all thanks to Biden’s parting shot of more Russian sanctions, which will tighten energy supplies.
