Morning Charts and Thoughts

The US Dollar continues on the path to new 7+ year highs.  As I have stated previously, longer term this will not be bullish for the stock market.



and what will this mean for crude oil?  ..... exactly what it has meant historically -   Lower prices.


which does not bode well for the energy sector.  It has been quite a bounce, but one that will prove to be short lived:

$BIDU came up to meet $200, which also coincided with trend line resistance.  A pull back to $180 is the likely scenario.

$TGT looks weak, and a break of trendline support could set up a move to $60.

$IWM needs to break that $120 level.   back to that $120 figure that has been key throughout 2015 - with the lack of support late this summer the tell



Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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