Don't believe the AI trade is done. Just think many names got ahead of themselves. Look at $MU estimates for next year. At current PE levels that $3000+. Get a narrow focus list of names you are interested in. Then wait and be patient. Then be patient some more.
The oil price slump has been faster and deeper than consensus estimated.
Brent and WTI are now below the end of February levels.
Why? Because the rise was mostly a geopolitical risk premium in spot prices, not a consequence of structurally tighter supply.
via Bloomberg
No Fireworks for Crude Oil as Sellers Stay in Control
• Down 1.40% overnight
• Tight Overnight Range at $0.93
• RSI Still Sub 30
• WTI at Pre-War Levels
• Trading Below the 250 SMA
While fireworks may be lighting up the skies this Independence Day, crude oil futures are doing just the opposite, continuing their slow drift lower overnight.
Key Levels (WTI Crude Oil Futures)
Bullish Levels
• 68.73- (PP)
• 69.00- (GEX 2)
• 70.00 - (GEX 1)
• 70.25 - (HVL)
Bearish Levels
• 67.28- (S1)
• 67.07 - (1D Min)
• 66.44 – (BL 1 )
#CL_F #MCL_F @MenthorQpro
I have been trading for five decades, primarily using charts. I have found nobody better as a pure Edwards and Magee devotee than Aksel Kibar. He is the chartist I most trust for accurate chart analysis
In the most recent Market Wizards book, Kenny Sharkness illustrates the dual role of talent and vision in trading success. If the learning process doesn't inspire, can it truly lead to great heights? https://t.co/otCWp1RiwE @harrimanhouse@gfc4@jackschwager@smbcapital
The NASDAQ 100 $NDX flips big-time red but the bozos at Fox Business News are only babbling about the Dow being up over 400 points. As usual, promoting the forest while ignoring the trees. #EatMyShorts