Gold, Oil & Indices (Equity & Bond Indices)

Hmmm yes and I guess the high inventory # on Wednesday didn't hep. Mind you we should be pleased at lower oil prices. Looking at the daily move up from the 77.28 June low we might be seeing a 5 sequence up completed with an unusually short 3, extended 5th with the 4:5 that caused us so much grief. If true the ret back has already done 38.2%. 50% at 88.85 and 61.8% at 86.12.

Take a look at the trannies and FDX. I think they look sick with non confirmation on Dow theory. That leads me to looking at weekly crude chart for count to below 77.28, well below. But we must not speculate so far ahead with EW. Lets see what happens next. Your 86 level very pertinent.

One more thing is looking at the fibs from the 24th Feb high to the 28th June low our 78.6% level becomes 70.7% with price hitting on the nail (I missed this, made an error) The 70.7% level plays time and again in crude. That 78.6% level we had was measuring the potential W.3 down when in fact the move down must have been a completed 5 series because this move back up to 100.42 went too high to be a W.4.

How's that for confusion :-)

good morning everyone

price of oil keeps on declining toward the 89.5.
the top was marked by a five impulive down what makes serach for a 3-3-5 pattern during month of august which is the case. the 10th of august
it will take weeks to regain the 100 mark. and if 88.15 reached so we enter a bear oil market.

ah, cat, chinese use iron ore, copper, or etc. as arbitrage.

typo...:(

fat paws?