• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar
Day Trading | Future Trading | Gold Trading Blog

Day Trading | Future Trading | Gold Trading Blog

Sharing about Day Trading, Future Trading, Gold, And Commodity Tips

  • Home
  • About
  • Blog
    • Futures Trading Tips
    • Gold Trading Tip
    • Stock Trading Tips
  • Plantium Membership
  • Contact

Transport Succumb To High CL Prices 10/03/2018

October 3, 2018 By Oscar Leave a Comment

This is the 1837th installment of Short-term Trading Live with Oscar which comes out for Wednesday, October 3rd, 2018.

Before we delve in, remember this is a very risky business. Trading, of any nature, is risky. Stock, options, commodities, you name it, and if you are going to play this game, have risk capital you can afford to lose. Also, never ever trade without stops.

Sell the Rallies in S&P and Nasdaq

So jumping right in, for Wednesday, Oct 3rd we are going to go with a red OMNI and selling the rallies. At least for the beginning of the session on Wednesday, selling the rallies in S&P and Nasdaq is what is in the plans.

Why is that so?

We must succumb to the pressure of the transportation average which has been coming down for some time now making nothing more than a bear flag. It was nicely secure in the black channel (refer the graph) for quite some time but that, my friend, is old news now. New news is the red channel (refer the graph) now. The market has broken down from the black channel and is now working its way through the red channel. 

day trading 10/03/18

That is exactly why we are expecting to sell the rallies in Nasdaq or E-mini S&P for trading on 10/03/18.

The Russell 2000 Daily

Let me show you another reason why because this is not the only chart. There are many and I’ll show you one more.

If you look at the Russel 2000 Dialy (RTYZ18). There is no way we just sit and not pay attention and/or respect to what we are seeing the Russel do. The Russel was in the black channel (ref the graph) for quite some time but it broke cleanly from this channel and is now clearly below my beloved OMNI. What’s more? It’s even below the OMNI average.

russell 2000 daily

If you ask me, it looks pretty ugly to me. I don’t like the signals from the Russel at all, nor from the transportation average, nor from the Nasdaq, nor S&P. Only the Dow still has great signals but I foresee that DOw will start to succumb to the pressure of what I’ve just shown you here.

Everything else that we are going to trade, touch or do in the market happens in my live chat room. The chat room is open to the public. To join head over to Live With Oscar.

Filed Under: Day Trading Tagged With: Stock Trading

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

SUBCRIBE TO MY BLOG

Get my latest articles to your inbox once a week. I'd love to send useful tips, not spam.

Recent Posts

  • Bond targets forcing a repricing of stock indices 10/03/2018
  • Transport Succumb To High CL Prices 10/03/2018

Recent Comments

    Tags

    bond trading (1) Stock Trading (1)

    Copyright © 2021 livewithoscar.com