The trend for Oil and Gas remains up, as does the group’s
A/D line (bottom, gold line).
Additionally, money flow into the group (middle, green line) has not had a
slippage below 50, the divider between accumulation and distribution.
Energy 4 year Chart
source: Redwood Technimentals
Kevin Lane, Chief Market Strategist of Redwood
Technimentals, notes that while not near peak readings, money flow remains
positive. “Until we get a break below the 50-mid point line, which hasn’t
decisively since happened since early 2003, we have to let the trend ride.”
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Quote of the Day
Whenever you find yourself on the side of the majority, it is time to pause and reflect.
- Mark Twain
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.