GMI falls to 3; T2108 drops; post-earnings lull; natural gas is turning

GMI3/6
GMI-23/8
T210849%

As this weekly chart shows, the T2108 has continued the decline that began 4 weeks ago.   As of Tuesday’s close, 49% of NYSE stocks closed above their 40 day average price. Declines usually end when this indicator falls below 35%. This is the post earnings release lull we expected.   I expect a bounce at the end of the month and a rise when earnings are released again in mid April.

Why is natural gas (GAZ) rising on its highest volume ever?   I own some of this commodity ETF.

 

1 thought on “GMI falls to 3; T2108 drops; post-earnings lull; natural gas is turning”

  1. The price of oil. As the price of some oil increases companies will use natural gas for energy needs. Exxon has been investing in natural gas for quite some time and is actually pretty well balanced in terms of oil and alternatives to oil, the largest being natural gas. It is the same reason why alternative means of oil production like oil sands are now viable, because of oil’s price level.

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