The S&P 500 is very close to giving a weekly ‘buy’ signal.
We are very close to an “outside reversal” candlestick on a weekly chart of the S&P 500. It just has to go 5 points higher than it has already. If it does — and the S&P 500 ends the day positively — that would be a “buy” signal.
The weekly RSI is already giving a buy signal.
Why is the S&P 500 so positive-looking, especially with earnings generally bad? I don’t know — you can throw the chicken bones on that one.
To be sure, the market can change wildly in the last half an hour of trading. So don’t jump the gun.
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Dear Sir, in reference to your article on “cheap gas”. Why is it, that yourself and others, for whichever reason, fail to do the basic research on the refining process for gasoline? There are lots of cities in the U.S whom
stipulate a certain blend of gasoline for use in their area. The refinery charges more for “blend’s” than the bog-standard variety, which in turn affects the final pricing. Your vote for reducing the current speed limit of 70 m.p.h. to 55 m.p.h.would
appear to depend on government figures, why? Government figures range from the sublime to the ridiculous, the recent and current figures for individual vehicle m.p.g. being a case in point. The average person using Interstate highways, does not barrel
along at 70 m.p.h. I make that statement based on my travelling from Florida to Texas and beyond, on a regular basis. I also note that you did not differentiate between modes of transport. It cost’s less to produce Diesel than Gasoline, yet Diesel cost’s
more per gallon that Gasoline, why? If my car manages to do 35 m.p.g. does that mean, I get the same m.p.g. at 55 m.p.h., or at 70 m.p.h.? I think not. 35 m.p.g. is achieved under certain conditions, throttle speed, vehicle load, road conditions, driver
awareness etc. If the current government, had managed to get enough spinal donor’s, to enable them to have had the resolve, to reject George Bush’s ego driven desire to invade Iraq. Would the price of a barrel of oil have reached current level’s? I doubt
it. If the U.S. had more oil refineries, converting crude oil to useable product’s would not be as expensive. Plus, “light” crude is easier and cheaper to convert than “heavy’ crude,…but don’t tell the government!! Thank you for an interesting article.
Yours sincerely, J.Adams.