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Tuesday, June 29, 2021

Market Update - Oil & Gas contracts, and commodities, anomalies

 I keep meaning to blog, but summer is typically slow trading, and I've been doing more stock picking lately, rather than trying to predict the broader market, and I may give up on blogging, all together.  

I do provide an occasional update to my linkedin page, and even Twitter, but it just seems like a big waste of time. Twitter is a dead platform, and I only have a hand full of traders following me on linkedin.   

In case you missed the most recent updates, I pointed out the (4260) breakout target on the $SPX, which happened on Friday. Stupid simple prediction, and there's no telling how much longer the rally continues. Unless, the 50 day moving average breaks, the bears have nothing to hang their hat on. 

I could point to a lot of bearish indicators, and I would not be long anything at this late stage of the game, but I wouldn't be holding my breath for a pullback over the summer, either. 

But the real reason I wanted to blog today, is because of the anomalies I'm seeing in several commodities. 

I'll let the charts speak for themselves. 

Wheat down 12%?: 

NATGAS: Was seen down like 40%, where you see my green circle. Strange 

$WTI Crude Oil: See the pink circle on this chart. This is where it was trading at the close? Impossible! May have been a flash crash, but in several sectors, and it goes unreported? 


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