@Axis_Balance Interesting chart and you can have the best of many worlds per this log scale chart. AI boom pushes SPX to 10000 by the end of Trump's second term, then prolonged bear market, accompanied by $300 oil.
@RachelDashCS@SchwabNetwork@SchwabTrading Almost every index, SPX, NDX, IWM, KOSPI, etc has formed something much like a bear wedge in their weekly ratio to WTI. Hope it's just the starter to a big rally.
@Brikka_trading Index all time highs would mean a sharp drop of oil prices. ST Brent doesn't seem like it wants to drop hard yet but IT it is kind of neutral.
@piomar1984@fernandowavesfx Fernando nailed oil moves again saying subwave 4 would take it to $90. The main question now is if oil will follow his subwave 5 and drop to new lows. Doesn't look likely but not impossible. That said, Fernando's "FIFA altseason" was completely wrong.
@NorthstarCharts Pretty sure it' a bull flag. The real problem is QQQ can easily dip to 642, completing thr diamond top drop while keeping the bull flag intact. Cheers
@mdtrade There's a pretty noticeable gap at $71. It doesn't have to be filled but by the same token it would be kind of surprising if oil soars straight to 180. Cheers
@RachelDashCS@WalterDeemer Would remain cautious until that diamond top of NDX is invalidated. TAwise it's one of the highest-probability setups in the markets for now.