SPN 4/14/2021

14 apr 2021

Noteworthy:

• Energy sector spiking today on news EIA raised demand outlook for crude
  

Overview:

• SP500 continues bull rally
  
• As lockdowns ease and vaccines become more prevalent demand for oil goes up with increased travel
  

Bullish Trend Continues:

• RSI breaks 57.60
  
• SPN closes about 370.30
  
• MACD fast crosses above slow
  

Trend Assessment Was Wrong:

• SPN close below 370.37 (21 EMA)
  
• RSI less than 50
  
• MACD slow cross below 0
  

Disclaimer
Not investment advice. Thinking out loud in a crowded room.