Market Internals for Oil

[The Bear]

Does something like the TRIN or TICK exist for the crude oil market (CL). What do the floor traders use for market internals?

[notouch]

How could there be something like that? TICK and TRIN are specific to stock indices where the underlying is made up of many different stocks. Crude oil is just crude oil.

[cooter]

Crude Oil is sensitive to fundamentals. News and economic reports drive the market.

Here's a good place to start for U.S. energy reports:

Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government

[The Bear]

Thanks Cooter. I was reading those reports from that website a few months ago and I do trade on wed., but I find the reports to be pretty useless for intra-day trading for my style. Maybe more useful for overnight?

[cooter]

Could be. But I'm curious, Bear. Unless you have access to a Bloomberg, Reuters or Dow Jones terminal, you are at the mercy of news and rumours.

How do you trade technically, unless your assumption is that the fundamentals are already "baked in" to the price?

I'd think that one outlying, Six Sigma event and you're done.

Thoughts?

[walterw]

I am curious to see an Oil chart.... intraday.... thanks Walter.

[nasdaq5048]

IMO, there are actual market internals for crude.

Crack spread, Gasoline spread, Heating spread, Back month spread, Nat Gas up down tick are all good clues for crude prices.

[walterw]

nasdaq : can you share symbols or how to get that internal data, will be interesting to take a look... thanks Walter.

[cooter]

These are not internals, are they? I thought they were contracts, in different months and/or products, unless I'm mistaken.

Crack spread - Wikipedia, the free encyclopedia

[walterw]

no cooter : an internal is a breath statistical index from a sector of the market.... there are very diferent aproaches on the construction of internals, but the idea is to know the overrall market sentiment thru this indexes.... foroil... I dont know.... what "market" context would apply...