Wednesday, November 29, 2023

SPX, NYA, OIL: The Grass is Always Greener -- When You Aren't Standing on It

Not a lot to add to the past several updates, but I have some interesting charts today nonetheless.  Let's start with INDU's very-long-term chart:

Next, a bit of a different perspective on SPX:

NYA highlights this even further:

Finally, oil has remained stalled at its inflection point for a few weeks now, and presents some interesting options from here:

Worth mentioning that we are closing in on the July high in SPX, and prior highs can sometimes offer resistance.  Btw, the "grass is always greener on the other side" because our very presence on the grass changes both its environment and ours, so unless we take proper care to nurture and sustain it, trapsing about casually ultimately kills it.  Not much else for now.  Trade safe.

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