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The Halftime Show: Are Oversold Conditions Real? The Bullish Percent Says So
On this week’s edition of StockCharts TV‘s Halftime, Pete reviews the bullish percent index; with all the market talking about oversold conditions, the bullish percent makes that narrative make more sense. He then reviews the 20+ Year Treasury Bond ETF (TLT) and deciphers what is happening on the chart. Last week, Pete noted that if you were playing it on the short side, it was time to take some profits, but keep some short for the full ride. This week, he explains why he still sees this going lower.
With the tensions in the Middle East, Pete also reviews the natural gas ETF, UNG. He then takes a look at UGA and USO for perspective; UNG looks to be breaking out. Lastly, he runs a specialty screen on the Chaikin Power Gauge Software that allow him to see where the experts are behind in their downgrades, and shows a full list before reviewing a few names.
This video originally premiered on October 10, 2023. You can watch on our dedicated Halftime by Chaikin Analytics page on StockCharts TV, or click this link to watch on YouTube.
You can view all previously recorded episodes of Halftime by Chaikin Analytics with Pete Carmasino at this link.