Here is a six month chart of the DOW. The market was a bit weak all day and then got weaker after the FED announced its rate cut. Considering the rate cut of 25 basis points was expected by everyone, I was trying to decide what spin to put on its 200 point loss when, out of the blue, it just ran right back up. The NDX, the Russell, and crude oil did not make it back into positive territory but it was far from a route❗️Even at its worst point of the day, the market did not come close to tipping its MACD over. Until that happens, the advantage is still on the upside.
Here is a six month chart of crude oil. Of the $8 spike up in crude, $5 has already been relinquished❗️I offered my view that an $8 spike was really not all that impressive given the gravity of the attack on Saudi oil fields. Far more shocking, to my view, is the rapidity with which this move is being reversed out. Do you really think $3 is sufficient to reflect the increased danger of a supply interruption (or worse)❓Actually, in more distant months in the futures contracts, crude is only up about $1 over its price prior to the attack. So, I have to ask again, what is this market trying to say❓Is it trying to say that there is no expectation of further attacks❓That would make no sense❗️Is it trying to say that, no matter how bad things get, neither the U.S. nor Saudi will respond militarily❓That would not make any sense❗️Is it trying to say that any spike up in price will soon be overwhelmed by weakness in the world economy that will kill demand for crude❓ Maybe. You have a better explanation❓
Check out this article in today’s New York Times. It basically says Iran feels like it can take any military action it feels like because it has concluded that President Trump is too much of a wuss to respond. That is essentially what I have been saying in calling President Trump a paper tiger. I am not so sure that the Saudis can afford to let this kind of military threat from Iran hang over its head. Then again, I don’t know that Saudi is prepared for a war with Iran - which is just what Iran is counting on. So, what do you say, has Iran passed the critical mass in its military that no one can ever challenge it❓
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Bob Marley: "Open your eyes, look within. Are you satisfied with the life you are living?"
The life we are living is too short not to actually be LIVING! 🥳
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42 1,31031 August, 2019
Set yourself up to win. Enjoy the world and all it’s heavenly glory.
You were not born to pay bills & die.
77 79012 June, 2019
THREE THINGS REASONS WHY GOLD WILL SMASH $1500 VERY SOON🏆🚀📈
IRAN URANIUM ENRICHMENT CONCERNS☢.
U.S. AND CHINA TRADE WARS WILL CONTINUE🇺🇸🇨🇳🤼♂️.
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Will post a video shortly🎥
82 1,35710 July, 2019
Now Look for Longs 🙏.
Received a lot of criticism about this analysis last week always great to see traders engaging 🙏...Drop your views below please...EURJPY Daily.
93 50728 July, 2019
After 3 days NZD/USD hits target banking 2%. Patience wins the race.
31 53922 August, 2019
Stretching the profit to my satisfaction before closing💸💸💸