i kind of agree. oil/dxy lost key structure last week. oil failed at reclaiming around 3 hours ago and dxy has quite a bit of downside before landing back on an uptrend line
QQQ broke support and is currently down -.60% today... NVDA hasn't broken support and is down -.15%.
Volume is key...one good move in the markets and NVDA gonna pump 15%.
oil and DXY both fell out of a key technical setup end of last week
he tweeted what he did at 7am to basically handicap both trying to reclaim the structure (which they still haven't yet)
I had an actual thesis back during the pandemic.
In 2020, the International Civil Aviation Organization (ICAO) officially launched the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
Net-Zero Commitments: In December 2020, major carriers like United Airlines pledged to become 100% green by 2050 specifically through SAF and carbon capture rather than traditional offsets.
Fuel Certification: In June 2020, two new technical pathways for SAF production were approved by ASTM International, bringing the total number of approved "drop-in" SAF types to seven. This allowed more types of renewable fuels to be legally used in commercial engines.
Norway: In 2020, Norway became a global pioneer by implementing a mandatory 0.5% SAF blending requirement for all aviation fuel sold in the country.
European Union: 2020 saw the introduction of the European Green Deal, which set the stage for the strict "ReFuelEU" mandates that now force a transition to SAF across Europe.
Rolls-Royce completed the compatibility testing of 100% Sustainable Aviation Fuel (SAF) on all its in-production civil aero engines in November 2023. Following a commitment made in 2021, this ensured all Trent and business aviation engines are compatible with 100% SAF, with key tests completed on engines like the Trent 700, 800, 900, 1000, XWB, and Pearl family.
TLDR:
Governments, particularly in Europe and the UK, are forcing the use of Sustainable Aviation Fuel (SAF) through legally binding mandates, while other regions like the US are using tax incentives to encourage, rather than force, its adoption.
RYCEY was oversold and had a future.
I exited my position in Feb. Over valued ATM.
Notes
Look at the 4hr and Daily /GC charts, could be setting up for an interesting failure trade and could get nasty. Multiple Failures pre-market 4469.1 4423.2 key levels. If gold doesn’t re-claim this level this is not good for gold. Positive is it did bounce off the 200SMA 4162 so could equally bouce off that over the levels for leg up. Wild.