Smokin’ Crack
Smokin’ Crack
UPDATE 10:00am EST: Yes, several of our elected leaders obviously are. But I”m actually referring to this little jewel:
There are several ways of counting this mess in EWT but in almost all cases we appear to be on the onset of another rally in the crack spread. I’m going to start hunting some refiners – yeeee-haaaaa!
Nice pop and drop this morning – I told you guys – this week is going to be painful. Market makers are not messing around – they are ready to inflict some pain! BTW, watch the NQ – seems to be either leading or lagging – have not made up my mind yet.
UPDATE 10:55am EST: I’m hunting for some refiners:
CVI: I know, this channel is weak as ass but there’s also a horizontal resistance line (not drawn). I think it could go to 5 if it breaks out here.
TSO: I’m split on this one – but it seems to be in a short term ascending triangle. I think if it overcomes the horizontal line we might be good to go for two points. Let’s wait for a break out – I’d set an alert at 13.4.
