Investing

[Screwball]

1 hour ago, gehringer_2 said:

going to be interesting to see if the S&P closes below ~6800 tomorrow. Trend says yes, but that's been a support point for all of the dips in '26 so far.

The S&P is holding up pretty well considering what's going on. More concerned with the 6762 level that, if breeched, would take us back into the channel from the huge sell-off in October, which puts 6550 in play as the next stop.

Incoming chart porn warning.

Reminder, the yellow arrows were Fed rate cuts.

On to the story of the day - energy, and the price of crude. It was fun to watch today. Got as high as $82.16. Little under $80 as I type this. For perspective, a 6 month chart of crude and what it looks like in the last week.

This isn't new, when you look back in history - given the price of crude right now. There are some parallels. Look around Jan 15, and later what they call the 12 day war. Blowing **** up is directly proportional to the price of crude it appears. 

 

There is an old saying. This time is different. Seems like some **** is getting blown up. Next stop according to the charts is around 92. 

[gehringer_2]

13 hours ago, Screwball said:

More concerned with the 6762 level

Pre-open futures just fell through that.

[Screwball]

How about some mid-day chart porn. First today's action in WTI crude oil. Above I said the charts show the next stop in the 92ish range. Not there yet, but what a ride today. Up over 12%. Looking back it's around 93.5. 1 day by minute chart.

We have to go back to the first part of 2022 to find the next support/resistance level. Wonder what was going on then? Hint; blowing **** up. 3 year by week chart for clarity. the 93.46 is from Jan/Feb 22.

The S&P is just banging around the 6762 level after a big gap down at open, and can't seem to figure out which direction it wants to go. Given the price of oil and the February employment report, it's holding up quite well. 1 day 1 minute chart.

Today's employment report from the BLS; Employment Situation Summary - embargoed until  8:30 a.m. (ET) Friday, March 6, 2026

 

 

[Deleterious]

 

[Screwball]

Why do they always say "unexpected?"

We live in the biggest Ponzi scheme ever funded.

[gehringer_2]

51 minutes ago, Screwball said:

Why do they always say "unexpected?"

We live in the biggest Ponzi scheme ever funded.

I was half expecting to see a rush for the door at about 3:45 today but nothing really materialized - a little attempt at a rally actually but it fizzled. I guess it's good news if people aren't panicking.....so far.

[Screwball]

5 minutes ago, gehringer_2 said:

I was half expecting to see a rush for the door at about 3:45 today but nothing really materialized - a little attempt at a rally actually but it fizzled. I guess it's good news if people aren't panicking.....so far.

Crude is really overbought as they say in the market. Been a rocket. Crude was $55 bucks middle December 2025, but has went exponential lately. I expected a sell off late as well, due to some not wanting to be long over the weekend. It didn't sell off, but stayed in the low 90 range for the last few hours. That might tell us something.

As the charts show, crude has been this high before. Usually when we, or somebody, is blowing **** up. Some not all that long ago. The difference this time, is they are blowing up a bunch more important ****, and more of it, best I can tell. That kinda matters. 

Crude oil - energy - Texas Tea as Jed used to say. Bad things happen when the price of energy goes goofy.