19
Jan
Wrap – Week Ended 01/18/13
Comments a little later in the weekend.
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SJT up sharply again today
January 21st, 2013 at 10:22 amI missed Friday afternoon's trading. Was there a particular catalyst for the reversal off the LOD?
January 21st, 2013 at 1:16 pmS&P Weekly Notes/Thoughts Notes… Value/Acceptance moving higher with little mkt structure above. 1468.75 CLVN rejected as too low on Friday. Testing minor CHVN at 1480.75. Upside targets at 1486 and 1503. Demand volume positive in all time frames. Breadth trend positive/OB. POMO supportive. Risk sectors leading. Currencies supportive, $USD turning up, Euro looks exhausted.
January 21st, 2013 at 1:20 pmThoughts …Mkt looks ready for more sideways/ upside after sharply rejecting the shallow pullback to the 1468.75 CLVN on Friday.
CLVN=Low Volume Rejection Zone – CHVN= High Volume Price Acceptance and Congestion Zone-VPOC=Daily Most Accepted Price
1480.75 Minor CHVN/Minor market structure above to 1505
1476.50 VPOC/Tentative volume range pivot
1468.75 Minor CLVN/Breakout point
1464.50 Previous Volume Range Pivot
1460 Minor CLVN
1456 Volume pivot for previous balance area
1454 Minor CLVN
1446-49 CHVN
1444.50 CLVN-Major Gap Below
1439.50 Mini CHVN
1428 CLVN
S&P Futures
http://www.charthub.com/images/2013/01/21/Es_Composite_2.png
http://www.charthub.com/images/2013/01/21/ES_IntraDay.png
Crude Oil Trading above major acceptance (93) at defined resistance (96). Demand volume remains positive in all time frames.
January 21st, 2013 at 1:38 pmhttp://i1223.photobucket.com/albums/dd503/zorgnak/CL121_zps312bdd2a.png
Nat Gas Demand volume positive on the daily and weekly. Resistance at 3.78
January 21st, 2013 at 1:44 pmhttp://www.charthub.com/images/2013/01/21/NG_Composite_2.png
@4, seems driven by Algerian tensions/risk
January 21st, 2013 at 1:52 pmXOP (E&P ETF) At top of 5 year volume base/break out level. Demand volume positive long and short term. Low absolute volume.
January 21st, 2013 at 1:53 pmhttp://www.charthub.com/images/2013/01/21/Stock_Weekly_3.png
FCG (Nat Gas Stock ETF) At top of 7 week base with demand volume improving. Absolute volume still muted.
http://www.charthub.com/images/2013/01/21/Stock_Weekly_3_2.png
Leaving the sinking ship…….
January 21st, 2013 at 2:50 pmhttp://www.bbc.co.uk/news/world-middle-east-21122618
also an oil tanker was highjacked off the Ivory Coast this morning
NG up again on the off day:
http://www.investing.com/commodities/natural-gas
January 21st, 2013 at 5:13 pmStay safe out there, HAL worker at KOG well killed over the weekend.
January 21st, 2013 at 5:15 pm2012 another very good year–for oil imports. Nearly 1/2 trillion spent on oil imports in 2012. Of course some of it was re-exported as refined product, but there is still a huge trade imbalance and negative wealth transfer multiplier effect on the US economy due to this situation. Growing US oil production will help somewhat, but natgas transportation, starting with deisel-powered vehicles and gasoline powered fleets, has the greatest capacity to change the picture dramatically.
January 21st, 2013 at 6:31 pmhttp://www.pickensplan.com/news/2013/01/18/americans-spend-434-billion-on-imported-oil-in-2012/
MMR — read thru the Earnings Call Transcript over on Seeking Alpha.
January 21st, 2013 at 10:13 pmI found the Q&A w/ Leon Cooperman to be quite interesting, as it relates to the potential value of the JBRT
http://seekingalpha.com/article/1120691-mcmoran-exploration-management-discusses-q4-2012-results-earnings-call-transcript?page=4&p=qanda&l=last