6/15/2026
The President says ships start your engines.
Oil Execs Worry Over Dwindling Stockpiles - Front Page Article today WSJ
Chevron and Exxon CEOs say, tanks are near empty and need to be filled.
-Supply crunch will soon manifest itself around the world -Mike Wirth CEO Chevron
US is approaching unheard of inventory levels - Neil Chapmnan CEO Exxon
It's going to get ugly - will VanLoh, quantum Capital
Trump administration shrugs off warnings
______________________
It is surely convenient that Trump claimed to have an Iran deal as he landed for the G 7 Meeting, amid a hot stock market and declining oil prices
On Fox Business, Charles Payne, host of FOX Business afternoon show, is quoted as saying this is the best time to invest, ever. Wel,l recently that would be summer 2002, dot.com bottom, or March 2009, sub prime bottom. Just pointing out that TV show hosts have taken the bait as well, not that they are ever bearish.
I still am in the no opinion camp on the markets at this time.
What are the markets actually saying?
SPx has weekly RSI top and PMO very toppy
Weekly NDX shows 5 waves confirmed by arrows for tops and bottoms
A two year weekly chart shows just how steep the mania became in teh last two months for all things technical. PMO has not turned down on this weekly chart, so the party will continue for a while.
No comments:
Post a Comment