by Gary S. Morrow | Mar 13, 2019 | Chart of the Day, Charts
The GSG(iShares S&P GSCI Commodity-Indexed Fund) has been consolidating in a narrow range for the last four weeks. The index held above very solid support during this phase. A fresh rally leg may be coming as the month long bull flag begins to give way. The...
by Gary S. Morrow | Feb 27, 2019 | Chart of the Day, Charts
DBC(Invesco Commodity Tracking ETF) has been consolidating since its powerful Feb. 15 breakout. Layers of support in place. Setting up well for a continued rally. DBC is heavy energy: Heating Oil/Crude Oil/Gasoline/Light Crude=53% Weighting At time of publication we...
by Gary S. Morrow | Jan 2, 2019 | Chart of the Day, Charts
Crude is moving well this morning. The $USO is up 3% after opening the new year with a gap lower open. Highlights: The $USO is working on only its second weekly gain over the last 13 weeks. This steep decline has traced out an ugly bear channel. It may soon give...
by Gary S. Morrow | Dec 17, 2018 | Commentary, Market Update
In the past 28 years, there have been two times when every stock in the S&P 500 Energy sector was below their 10-, 50-, and 200-day average and more than half were trading at 52-week lows. 1) During the very depths of the 2008 financial crisis. 2) Now Hat tip...
by Gary S. Morrow | Nov 12, 2018 | Chart of the Day, Charts
$USO under heavy pressure this afternoon after a promising start. Crude opened above Friday’s high and remained in the green for the bulk of the day. A late sell off has pushed $USO to new November lows as the current losing streak stretches to a record 11...
