Technical Update Feb 27 2024
Today in summary: Boiling
Market has been grinding higher. We are coming into short-term supply, Daily TD Combo 13 is currently on it’s 12 count. If we close below this week’s open, would trigger a short-term move down to the 5000 area. Not enough to warrant repositioning, but hedging is welcome with how cheap volatility is.
Position Changes:
Long AAPL 180 Puts (March 15)
Added CVX
Charts:
SPX
Trend Factor still could range up to 5200.
Crude Oil
Still looking for 82+ upside in the short to medium term
Chevron holding TDST support at today’s lows. We are still looking for this to follow the energy pattern.
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