Best Strategies

Oil

Oil appears to be in the fifth and final impulse of the sideways corrective phase. If this is true, we can expect a breakout soon, in either direction. Watch for a retracement back to 31 beforehand. The Kovach momentum indicators are relatively level, but oscillating about a mean, lending credibility to the sideways movement.

Best oil strategy

Oil is completing the fifth cycle of a sideways Elliott Wave. Watch for it to break either way, most likely to the upside.

Bonds

As noted yesterday, bonds are having trouble making higher highs. Both kovach momentum indicators have leveled off or retraced, and we have a red triangle at the high of that candle at 139’10’5, indicating a pullback is coming. Look for ZN to establish value in the highlighted region.

Best trading strategy for bonds

Bonds seem to have trouble with highs. Watch for a retracement. Consider a Stop Loss if ZN can make new highs.

Stocks

Stocks could really go either way. While the S&P 500 is looking “toppy” with a red triangle on the Kovach Reversals Indicator, the Kovach OBV (blue indicator) remains pretty bullish and there is a pullback in the Kovach Chande. Those of you who have studied these indicators knows that is a long signal.

We are in a relative vacuum zone, so it is likely to see a decisive move either way. If you have a long-side bias, 3055 is a good target. If you are a bear, check out 2991.

best stock strategy

Stocks could go either way. Note the vacuum zones and levels above and below.

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