Crude Oil- 50% average gain 12 months after this took place

crudeoilgainsafter40decline10wickmar31

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Crude Oil did something last month that is has only done nine other times in the past three decades!

Crude Oil finished the month over 10% above its lowest price during the month, creating a potential reversal pattern, after a large 12 month decline. The upper left plots points where Crude Oil created at least a 10% reversal pattern (bullish wick) following at least a 40% decline in the prior 12 months.

This combo (reversal wick & 40% decline) has only taken place 9 times in the past 30-years! The chart in the upper left plots where this combo took place.

The table in the lower right looks at returns for Crude when this combo took place. As you can see Crude had decent returns 3-months out (ave 12% gain), with the returns being the best as time went along. The average gain one year out is 50%.

Was this the only rare event to take place last month? NOPE!!! I shared with Premium Members yesterday that similar rare opportunities took place in Bio Tech and the US Dollar last month as well, creating historically wonderful opportunities!

 

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NDX 100- This double top doesn’t matter today!

ndx100dualresistanceaprilfoolsapr1CLICK ON CHART TO ENLARGE

Double tops don’t matter!  Happy April Fools Day friends!

NDX 100 closed the month/quarter around 1.4% below the close on 3/31/2000. Is a “Double Top” in play 15-years later?

The monthly close has the NDX facing a resistance line that is tied to a could of key price points in 1990, 2002 and 2008. This combo sets up a dual resistance test for this key tech index.

No joke…. A breakout above these two lines would be a positive for tech stocks!

 

 

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Biotech creating the largest reversal pattern in its history this month?

ibbbearishwickatresistancemarch31CLICK ON CHART TO ENLARGE

Today marks the 126th Anniversary of the Eiffel Tower.

In honor of this date, I thought I would look at the hottest sector in the states and see what could be found.

IBB on a “Monthly” basis could be creating the largest reversal pattern (bearish wick) in its history. Even if its not #1, its a biggie. This potential reversal pattern is unfolding at a steep rising resistance line as well as its taking place at a long-term Fibonacci extension level. As you can see monthly momentum is at level not seen in the history of IBB.

If you would like to see some other Eiffel Tower patterns in the past and how they played out…CLICK HERE

Since this is a monthly pattern, odds are high it could take awhile to see if this is the mother of all bearish wicks or not.

Remember, hardly any sector on the planet is hotter than Biotech and what takes place here could send a message to a few indices, sectors and stocks!

 

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