Oscillators showing overbought conditions. IMO Some overreaction to earnings out there. Keep your eye on what is more important at this point energy inflation and rates! I will enter call credit spread after opening theatrics are done with. Overall seeing red or sideways for the day.
IEA report showed crude and gas buildups. This should draw down the ppb some. 10 yr is yield is down. I expect to close today in positive territory. Otherwise, I'll just mind the channel. Surfs up!
Cleared my charts and zoomed out, falling wedge is there to see. RSI is neutral or is it? Looks to me, that wedge will rule going forward. I will be watching bonds and energy for direction within the wedge. Overall it looks pretty bearish.
With a 440 hold, short for a swing to close the gap below. On a close above 440, perhaps looking for longs to close the gap above.
Sideways until better or worse days. Good time to sell options. No real news that hasn't been priced in at this point. Increasing energy prices and rates should be the influencers at this point.