If that breaks, as you can see from TradingView's 90-day chart, we have a big gap to fill back to 1,984 and, if that fails – we're goingt o be looking at the October lows again (1,800) – a potential 10% drop to kick off 2015. Ahead of that, we may get a bounce off the 2,040 line, but don't hold your breath (more on that below).
The Euro has continued to collapse over the weekend (see this morning's Tweet for maket news), down below the $1.19 mark this morning and that's sent the Dollar back to 92, which is putting pressure on commodities, especially oil, which is now testing the $51 line, where we'll take a long (/CL) with a stop at $50.90 and then again at $50.50 with a stop at $50.40 and again at $50, with a stop at $49.90, risking 3 $100 losses in the hopes of catching a $500+ winner (a 0.50 move up).
Duh! In other words, it gets cold in the Winter and, since PSW Members are also the smartest 1% of the country, we KNOW that Winter BEGINS on Dec 21st, yet the Natural Gas Futures were trading like it ended already. That's the basis of Fundamental Investing – look for places where the market simply has it wrong…
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