Over the weekend it looks like the virus has gotten worse within the US. The may lead to more downside this week. We are currently in a correction zone but below $271.2 we are in recession territory or 20% down from our previous highs. I think that $286 and $281 will be hard resistance to break through to go lower. I am going to long puts on SPY but also hedging...
This chart shows USOIL, West Texas Intermediate Crude Oil futures, on a monthly timeframe.
Plotted on the chart are our SCMR Dynamic Levels™, which dynamically plot support / resistance zones and are accurate at finding targets. This indicator is available in the TradingView App store under Analysis Suite - SCMR Trends.
The BIG QUESTION: Is crude bottoming...
It's been a while since I've been able to publish any trade setups or ideas, but let me assure you... it was worth the wait and you wont be disappointed.
This chart illustrates the newest system to grace the TV app store, "Analysis Suite - SCMR Trends" and how I used it to dominate this H&S trade setup... and basically every other trade I've taken in the last...
This is a year-to-date chart scaled on a percentage basis that outlines the relationship between the US Dollar, 20 yr+ Treasuries, Gold, Energy (think oil, gas etc), the Euro, and the US Real Esate Index. These represent the different investment classes in the market (rate-sensitive instruments, earnings sensitive instruments, and hard assets).
As you can see...
