Here's my LIKELY SCENARIO 🧵:
1/3 S&P eventually breaks the trend line as yields and the $DXY rise, stocks dip to S&P 4K, hold moving average support, pay Mr. Icahn, carve the 3rd higher low, and rally again. $SPY @Carl_C_Icahn
1/3 S&P eventually breaks the trend line as yields and the $DXY rise, stocks dip to S&P 4K, hold moving average support, pay Mr. Icahn, carve the 3rd higher low, and rally again. $SPY @Carl_C_Icahn
2/3 Dollar Index $DXY wants to retrace toward 106.50. Keep commodities $BCOM in a slow moving down trend and weighs on natural resource stocks. 106.50 is Fibo 38.2 resistance and the 100 day crossing 200 day. I'd bet a @gibsonguitar the dollar fails that and dumps.
3/3 And if anyone wants to talk about the fact that WTI just swallowed a 26M SPR release, a 16M bbl inventory build, and didn't even belch - I'd love to. #oilandgas $USO #WTI
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