Coach Mark here.

A few charts out there acting a little bit frisky on a Tuesday morning. Now we have had charts acting frisky all year long in what was a relentless bull market in the first quarter but this time the charts acting frisky are a little different.

Oil has started the month strong. After a strong first quarter in which oil battled through a series of resistance levels oil is starting the month of April strong. Increased tension in the middle east, OPEC maintaining supply cuts, coupled with a dovish Fed and economic growth that has been strong foundation for a rally. Rising oil is going to do nothing to alleviate mounting concerns on inflation after a series of data points that has brought inflation back into the front of the narrative discussion.

Yields are also breaking out of resistance. The world is better for bulls (in multiple asset classes) when we are not discussing yields. Yields add complexity to the market. Late last summer and early fall when yields and the dollar were rising it created a nasty mix for risk assets of all kinds and a breakout here in yields is going to catch some attention.

Oil and yields rising certainly classify as a few troubling charts to monitor as we start the month of April as they both tie into the inflation narrative. Of course, positive inflationary data can quickly alleviate these concerns.

We will break it all down on the Halftime Report today! Have a great Tuesday and let us know if you need anything at all.

Chart of the Day: Crude Oil (/CL)

Oil had a sneaky-quiet great first quarter and is not so sneak to start the month of April. Power move to start the month as tensions escalate in the Middle East and the macro story very fundamentally strong.

Today’s lineup

Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day, and fun in a way that only the Coaches at Tackle Trading can deliver.

Weekend Reports

Watch the Stock, Options, Commodity, and Tackle Newsletter Reports to help you prepare for the week.

Financial freedom is a journey

Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.

Legal Disclaimer

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.