Natty Gas — the “WidowMaker”
BOIL (Natural Gas ETF) — Bulls have taken charge, bounced off the bottom of the recent ranging pattern, and is now staging what appears to be WAVE 1 of 5.
KOLD (Natural Gas Short) — Bears held the equity hostage in a relatively tight range. Now, remember from prior posts on STOCHASTIC. Whooph coined the predictive term Upper Operating Area (UOA) and Lower Operating Area (LOA). So, no — we’re not fixated on PRICE! Will BOIL be able to break out of the range…and Stochastic above 75?
You may recall Whooph’s mention of the Stochastic creator, George Lane, and his enduring efforts to explain why historical data used to calculate his Stochastic and other Momentum trader Indicators, become predictive?
And his maddening terse reply to demanding fundamentals analysts:
Price has Momentum
Stochastic does NOT.
BEYOND the BOIL | KOLD Range — If Bulls show enough conviction to propel BOIL north, irrespective of high NatGas Inventory and large 107+ bcf injections due to high production levels, then we may see a short-term rally.
LONGER TERM — Whooph believes October, a shoulder month for Natural Gas, is much too early to stage any kind of long-legged rally, though Natty is known for exactly that!
For anyone seeking an affair with her should know her name, WidowMaker.
