26
Nov
Wrap – Week Ended 11/25/22
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The ZLT was up 2.7% on the holiday shortened and oil-volatile week. As usual Thanksgiving week was light in terms of company news flow and heavy in terms of geo-political drama. The rough sketches of the G7 oil and EU natural gas price caps gained a little more clarity (both unlikely to limit flows) along with a rumor of higher OPEC+ production drove commodity price volatility. If OPEC+ was unlikely to raise quotas on December 4th they are even less likely to do so now and can point to rising China Covid cases and re-tightened lock downs as reasoning to further tighten supply.
Free Stuff Last Week:
Holdings Watch:
- We added to CHRD on group weakness during the WSJ OPEC+ rumor last Monday.
- The blotter is updated
Have a good weekend,
Z
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Regarding Hydrogen from abandoned wells. The companies name is Cemvita Factory the article appeared in Wired Magazine
November 27th, 2022 at 10:50 amre 1 – thanks
November 27th, 2022 at 10:57 amWTI Sunday Night
Trading off 3% and below September lows. Getting stretched to the downside. Major support 71-72.
Daily
https://ibb.co/Bcs9DTQ
Nat Gas Broke out from previous value range last week. Trading at 7.27. Support at 6.93. Resistance starts at 7.63.
November 27th, 2022 at 8:47 pmDaily
https://ibb.co/yk5dBRY
XLE Energy Sector ETF
Daily Trying to establish value higher in November. 89.77 near support. 86 Far support. Looking for a test of support.
https://ibb.co/tpv7swV
Breadth Breadth and Momentum continues to roll over.
November 27th, 2022 at 9:05 pmhttps://marketcharts.com/page/edf819ba
XOP Ended up trading in balance last week after a high volume reversal off 147.50 support. Weak demand since.
Daily
https://ibb.co/B65RRRN
Breadth
November 27th, 2022 at 9:17 pmhttps://marketcharts.com/page/380ca992
OIH..Trying to establish a higher value range but demand weakening after last week’s volatility.
Daily
https://ibb.co/vDwSz3Z
Breadth
November 27th, 2022 at 9:27 pmhttps://marketcharts.com/page/635ad02e
TAN Working off recent extension at major long term acceptance at 83.98. Nice looking setup if/when it can work above nearby resistance..
Daily
https://ibb.co/HKSRJGs
Breadth
November 27th, 2022 at 9:38 pmhttps://marketcharts.com/page/4a0801d4
Broad Market S&P Futures.
Testing 200 MA and low volume node (resistance) at 4047. 4142 is major resistance above if/when. Major support at 3900.
Daily
https://ibb.co/1dWXWFB
Breadth Strong breadth numbers continue. More than 60% of S&P Stocks > 200 MA.
November 27th, 2022 at 9:57 pmhttps://marketcharts.com/page/8eb2c685