by Gary S. Morrow | May 23, 2019 | Chart of the Day, Charts
Crude is blowing out near term support this morning. The USO(United States Oil Fund) is off nearly 5% and is heading for its biggest single day loss of 2019. With loads of overhead supply now in place(all of the April/early May range) as well as a declining 200D...
by Gary S. Morrow | May 14, 2019 | Chart of the Day, Charts
Is Haliburton putting in a major double bottom? Just maybe. The stock extended its drop from the April peak to a 25% sell off this week. This steep decline drove shares back down to the December 2018 lows. Today HAL is rebounding. Its up 3.8% at mid day and is a...
by Gary S. Morrow | May 5, 2019 | Charts, Commentary
New all time highs: Ratio of stocks to commodities. Something’s gotta give… Lowest level in nearly twenty years: Ratio of Energy Sector to SP 500 Index. Something’s gotta…
by Gary S. Morrow | May 2, 2019 | Chart of the Day, Commentary
After reaching a new 2019 high one month ago shares of OXY have been falling steadily. Today the stock is down for the 8th straight session. The aggressive distribution wave that began on April 24th has extended the drop from the 2018 peak to just over 35%. ...
by Gary S. Morrow | Apr 24, 2019 | Chart of the Day, Charts
Time to be cautious on energy? The XLE is bumping up against heavy resistance this week. The 200 day moving average, which was supportive late last summer, is back in play. This is the first test of the 200D since the Oct. 11th breakdown. Will the 50 day moving...
