Blogger won't let me post any images tonight, so this will be brief.
Crude oil and energy sectors were crushed on heavy selling (Natural Gas -7.1%, Coal KOL -9.3%, Clean Energy PBW -4%) along with big losses in commodities (DBC -2.7%, DBA -4.5%, Steel -5.9%, Gold/Silver -4.7%, Commodity Index CRX -4.2%, Chemical -3.5%) set up some great intraday trading and helped the stock indices bounce off of the morning lows.
That's three consecutive lower closes for technology and the broader indices leading into tomorrow's FED policy statement at 2:15. After all that, I expect narrow range trade leading into the actual statement.
Focus List - Keying off of the daily time frame, the following names have carved out 2 inside bars on lower volume - AKAM, AMLN, ALXN, ESRX, CNI (CNI also a bullish flag pattern).
1 comment:
Right arm, Jamie,
Putting the etf's side by side: xlf,iai,kbw,dug,kre VS moo,kol, oih,dig,ung,xme. tells the story. NICE!
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