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 | Mar 2, 2019 | Charts, Commentary
Chevron finished the week with its best close since early October. Since its powerful earnings inspired breakout(Feb. 1) the stock has been struggling to clear heavy supply near its declining 200 day moving average. As March begins CVX is beginning to put some...
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 13, 2018 | Chart of the Day, Charts
Natural Gas is surging again today. The $UNG is up over 4% after another huge gap higher open. An initial test of the 40 week moving average($33.10)is coming. Since inception(April 2007)the $UNG has remained below this long term indicator. Since its Oct....
