Friday 4 October 2024

Is There a Major Move Coming From a Potential Oil Price War, and Non-Farm Payrolls?

Join me at 9:15 a.m. ET for “Morning Monster”!
 
   
     
Is There a Major Move Coming From a Potential Oil Price War, and Non-Farm Payrolls? 
 
 
Last month, we lost nearly 1 million of those precious jobs that this administration has created. What will the non-farm jobs report and unemployment numbers say once they come out this morning in the premarket? Let's check them out together!

Come join me as we dive in and see what is moving!

Plus, as always, we have stocks popping and dropping so come find out what is moving this morning as I look for stocks and do some live premarket analysis on SPX, SPY, NDX, QQQ, Russell, IWM and other stocks that are potential plays for the day. 

 
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Oil Price War Speculation: Major Move Incoming?

Oil prices are at a critical juncture, and we might be on the verge of a major shift. The latest buzz is that Saudi Arabia is gearing up for an oil price war. Their goal? Force production cuts across the board — but if the rest of the market doesn’t play ball, they’re ready to flood the market with oil, driving prices lower.

We’re talking a potential plunge to $50 a barrel. Funny enough, that $50 price target was already on my chart — no surprise there. But here’s the twist: if this turns into a fake breakdown, we could see a classic "watermelon seed" squeeze, where oil prices rocket back up to $90 or even push through to $105.

If we breach that $105 level, things could get wild, with $150 to $170 per barrel in sight. But first, we have to see how this plays out. Right now, oil’s stuck between $50 on the downside and a massive breakout potential on the upside. Keep an eye on how Saudi Arabia's next move shapes the market — this could be the start of a major opportunity.

Today’s Daily Chart Setup: Marathon Petroleum (MPC)  

 
 
This idea came directly from my Daily Chart Setup that automatically signals potential plays. 
 
MPC is a new potential entry. Target: 186.0 Stop below: 156.22
MPC has a historical win rate of 91.67%
MPC has a profit factor of 6.856
MPC trades last 31 trading days on average over 12 trades since 2011.

This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. Always remember that past performance is not indicative of future results.

You can find full details on exactly how this works by scrolling down further in this newsletter. 

Now be sure to join me live at 9:15 a.m. ET for “Morning Monster,” my market-open livestream on YouTube!

 
 
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I’m also live at 5 p.m. ET on Tuesdays for “30 Minutes of Awesome” — bring your ticker and I’ll analyze it in real time!

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Ready for the Next Energy Stock Surge? 
 
 
My Apollo Algo has logged multiple winning trades from across the energy space. 

Tickers: VLO, UNG, MOC, PSX, BTU and PBR are all confirmed wins from just one day’s recent trade recommendations. 

With the growing demand for energy by Bitcoin miners and AI data centers… 

Energy is SUPER HOT right now!

And it’s getting hotter as we head into the election. But here’s the kicker: 

There’s an often-ignored slice of the Energy sector that traditionally takes off after elections. 

This year? 

It could reach heights we’ve never imagined. 

That’s why Geof Smith and Graham Lindman are rolling out the red carpet for a free broadcast: “The 2024 Election Energy Superplay” at 1 p.m. ET on Friday, Oct. 4!

 
 
Register for the Energy Superplay Here!
The profits and performance shown are not typical, we make no future earnings claims, and you may lose money.From 8/6/24 to 9/20/2024 the win on live trade signals is 100% with an average return of 10.34% on an average 3 day hold time.
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How the Daily Chart Setup Works
 
Here’s a more detailed description of how the pattern triggers:
 
1. The price breaks upward through the orange Market Roadmap Line. 

2. Then the price goes up and down while staying above the line. Eventually, it comes down to touch the line again — this could take days, weeks or even months. 

3. Once it touches the line and starts moving back up, that signals an entry. 

I use Fibonacci levels for for profit targets and stop losses, and these two tools combined have helped me achieve a 77% win rate over the past six-plus years!

You can grab my Market Roadmap Indicator here for just $5 — less than a cup of coffee at most places!


Jeffry Turnmire
Jeffry Turnmire Trading

I host my “Morning Monster” livestream at 9:15 a.m. ET each weekday on YouTube, and then “30 Minutes of Awesome” at 5 p.m. ET each Tuesday!

Please check out my channel and hit that Subscribe button!

I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader.

I've been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it's the Eagle Scout in me. 


*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. 
   
 

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