Archived 1276 charts this morning, and that only includes charts that go back to April, 2022.
Looking at the market
Can you believe how the market has run in 2023?
Of course the Lame Stream Media chalks this up to a "soft landing", being priced in, but that's the same thing they were saying, just before the crash of '08.
The truth is, money gets put to work at the beginning of every year, regardless of the numbers, or the fed, or even the threat of WWIII.
Sure, the powers that be, tried to shake the weak hands, when they returned from holiday, but that was only in order to buy the dip.
NASDAQ (futures) - driven to 12k
$INDU (futures) driven back to 34k
Even number targets are a PsyOp
$DAX was recently driven back to 15k. Only 1000 points off the 2022 high.
And all this interest in Emerging markets, just because Chine is removing Covid restrictions?
Since when has the Chinese consumer driven any economic boom?
This marks a new recent low in foreign investor intelligence, I'm afraid.
Foreign Investors Flooding Back into China etftrends.com
Speaking of Stupid Foreign Investors
Getting back to US markets
After all the hand wringing we witnessed in 2022, the DOW is only 3000 points away from making new all time highs!
Speaking of new highs:
I'm watching several stocks - including $XOM, and I think since ITEL missed earnings to badly, they dumb money will continue to rush into Energy names. Could be a good day trade, and could even extend into next week.
I was unsure where the next sector rotation might take place, but it seems like money is coming out of the mining, and materials sector, and it's going back into Energy Stocks.
I've mentioned Exxon before, because it's one of the key heavily weighted names that's consistently used to drive the broader indices, and especially the $SPX.
Pivot to The $NYSE Flash Surge
Exxon was one of the names that was effected by the recent flash surge, or crash - whatever you want to call it. I'm calling it a "Flash Surge".
I find it hilarious that the corrupt fake financial news use terms like "snafu", or "glitch" to describe a major system failure, at the New York Stock Exchange, to try minimize it, and I speak in psychological terms, because it is a bit of a psy-op.
Psychological operations, or PSYOP, are intended to “convey selected information and indicators to foreign audiences to influence their emotions, motives, objective reasoning, and ultimately the behavior of foreign governments, organizations, groups, and individuals. fas.org
Getting back to Exxon and the like:
1. Looks like these energy names are in a head-fake rally, so I certainly wouldn't be chasing energy here.
2. I raised the target on Exxon to $120 in my twitter feed.
Raising the target on Exxon Mobil to $120 $XOM pic.twitter.com/6IkmQrEqRV
— Veteran Market Timer (@3Xtraders) January 26, 2023
3. I'm not going to reveal my $XOM charts - I have several working - but I can tell you it could run as high as $123, or even higher, if it continues to hold up into February.
Reminder: If you're going to trade energy, you better be keeping a close eye on oil.
Oil - has run, as I predicted it would, but it's kind of pivotable here, meaning it could go either way.
I'm afraid #Oil is next. New policy: I hate anything that trades sideways for more than a week. lol #oilprice
— Veteran Market Timer (@3Xtraders) January 26, 2023
Need my help trading Oil?
I almost tweeted a free #oil chart, but no... That's going to cost you $100. PM me...
— Veteran Market Timer (@3Xtraders) January 26, 2023Other Energy names to watch
$VLO breaking out to new all time highs
$PSX "" Chart below
Chevron Stock Falls as Earnings Disappoint barrons
No wonder they felt the need to do a buyback! This is what companies do, when they run out of future growth opportunities. It should be illegal to juice your own stock.
I'm out of time.
Watch for the New Letter - in your mailbox - this weekend,
AA
sss
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