Spot crude oil surged dramatically higher today after reports of a 14 million drop in inventories hit the wires. Spot crude oil is trading at $47.53, +2.03 (+4.46%). While a monster move, big money is talking about a major resistance level approaching at $47.75. Many pro investors and traders are looking for a potential short here based off the trend line connected between the recent highs (see the chart below). Also, institutional money is telling me that the up move in the last week is still inside the bigger down move from the prior week. This is bearish until that bigger down move is taken out to the upside. Just a helpful heads up.

Home Depot Inc (NYSE:HD) has seen a sharp decline lately, falling from a 52 week high of $139.00 to a low today near $131.00. While the chart looks ugly, investors looking for a swing trade buy opportunity may be in luck. The stock is nearing two major support levels that coincide at the same price. The buy price level is $130.70 and the two factors are the daily 200 moving average and a trend line conneting the recent lows going back to January 2016. This presents itself as an extremely good buying opportunity for investors.

Facebook is a great company and makes billions-of-Dollars a year. The fact that I shorted it changes nothing in regards to its king status. As an investor, I simply look for near-term opportunities where a stock is going to drop or pop and swing trade accordingly. This is one of those situations on Facebook. I strictly focus on logic and stock charts so as not to let emotion get in the way. The Facebook chart hit a key trend line today that has a history. This history dicates that every time it hits this line, it pulls back. Therefore, I am utlizing that knowledge to short it. Note the chart below. I love the resistance here at $130.00 and expect this to be a near term top for the stock.

After studying the chart of the Dollar vs. Yen (USD//JPY), it becomes clear it is trading in a triangle pattern that is near breaking. The big question is, in which direction will it break? Considering the carry trade, a breakout or breakdown could have serious consequences for the stock market. If the USD/JPY breaks down, it will likely head to 94.75. If the USD/JPY breaks out, it will likely head to 107.15.