3/30/2026
Recall we were looking fora rally given the over sold nature of the short term charts and here it is. The media of course says it is Trump's latest comment, we may quit while Iran controls Hormuz, how this is a cause fo celebration I do not know.'
So far the 50 dau MA has contained the rally in the SPX, the INDU over shot it a bit. Hdge is the flip side, a bear fund of the general market.
We will see if there is any follow thru rally tomorrow. $26 or regular from the one-quarter level of my gauge took it to 3/4, not full, and that is making lots of Republicans nervous about the mid terms.
Chart patterns for energy service and energy companies are starting to look toppy. This suggests the market, that amazing magic hand, is seeing at least a pause in energy panic.
If the US stopped hostilities tomorrow, the oil price would not immediately return to $65. There is too much uncertainty for that. And if Trump leaves Iran in control of Hormuz, that uncertainty will be permanent.
so far I view this as an opportunity to add to shorts, we shall see tomorrow.
Daily hits on the weblog have nearly doubled from last month. I welcome comments about your take on the posts or how this reading is of advantageous to your investing.
dennis.elam@att.net
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