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FUTURES MARKET TIMING SIGNALS: ENERGY MARKETS
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Last updated 8-5-04 |
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| SYM | TECH - LT | TECH - ST | SEAS | POWER | OI | VOLAT |
| CL: | Very toppy | Very toppy | Peak now in Aug/S. Ahead is bearish Dec/J/F | Peaking, on final rally | High | Rising, not at extreme |
| Keep very tight stops on longs. Recent downside selloffs have been tradable short-term with tight stops. | ||||||
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HO: |
Ditto | Ditto | Ditto | Bearish | Very high | Ditto |
| Keep very tight stops on longs. | ||||||
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HU: |
Choppy / toppy | Choppy / toppy | Peak Sep/O is just ahead | Peaking & turning bearish | High | Unc |
| Stand aside. | ||||||
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NG: |
Choppy / sideways | Bearish | NA | Bullish, supportive of rally | Avg | Unc |
| Stand aside. | ||||||
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NOTES: |
Energies are currently topping out in peak seasonality. Internal power is weakening. Stand aside or keep very tight stops on longs. The May/June selloff was tradable and any near-term selloff is likely to be as well. | |||||
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LEGEND |
| TECH - LT: Long-term technical picture, usually based on weekly charts |
| TECH - ST: Short-term technical picture, usually based on daily charts |
| POWER: Interpretation of internal market power |
| OI: Open interest analysis |
| VOLAT: Volatility analysis |
| Unc: Unclear |
