HAL and HP both delivered the contraindication that we were worried would show…With the odds degrading back to coin flip levels, it is now time to take what profits exist and remove the risk from these trades so that we can focus on higher odds scenarios in the future.
Halliburton (NYSE:HAL) is in the middle of forming a complex correction and may test or create a false breakdown before likely reversing and heading back up into the blue zone.
(EUR/USD) is testing the bottom Ivory zone with substantial bearish power. Intra-day traders can watch for bearish price formations while multi day traders wait for a better daily entry to form.
Helmerich & Payne, Inc. (HP) is chopping its way through a complex correction. We will stick to the plan until a contraindication is seen, or the blue zone is tested.
The S&P 500 index proxy (SPY) continues to drift higher as it challenges the red zone. There is still some short term power to be digested before the bears come back in earnest, so we are expecting to see a retest or a slight push higher before a sustainable top can be built.
The S&P 500 index proxy (SPY) has followed through to the upside just as we forecast. Now that the short squeeze has successfully cleared out the stops, it is likely to stall out and reverse. This reversal should be “it”, so we are interested in building a strategic position on the short side in the…
Helmerich & Payne, Inc. (HP) gave us a nice second chance entry last week as price trade within the green zone. Now we wait and see if price can challenge the blue zone in the next week’s trading.
(EUR/USD) is working through a wave of short term bullish energy. This is in conflict with the deep time-frame bearish energy that continues to build. We are waiting until we can get a reading with price within the ivory zone as indicated on the chart.
Halliburton (NYSE:HAL) has given us the reading we were hoping for, and thus we are able to convert the ivory “wait and see” zone into a fully qualified trading opportunity. We will expect to see price dip slightly lower to test within the green zone, then turn back up to offer profits in the blue…
