according to the r oscillator, the market is indeed oversold.s is an indicator that it's down below 30. when crude gets down to these levels, it gets this oversold, garner says it's the kiss of death for a bear market. although oil generally retests it's lows or even makes slightly lower lows before rebounding, that's crucial. garner suspects this time to be no different. so there's a little bit of a breakdown, a little bit of a breakdown. in short, she's betting on another leg down before we bounce, but we will bounce. oil is supporting the low of $43 if either one of these hold, garner expects it to be right bag to $50. this is how it's been for months. it's been down in the 40s, then we bounce right back to the 50s, it's happened over and over and over. garner's picture shows similar support level s where she expecs things to turn around. last week's breakdown below $46 should pave the way in near term liquidation in oil futures. the one big difference with the weekly price, the relative strength index, and the r oscillator, still have a bit

it's actually a technical tool that uses two different oscillators that spots early trend changers. as collins points out, it meat a bullish cross over a few weeks ago. the last time that happened was in february, and qualcomm rallied 4 bucks. so if qualcomm tags on another buck or so it will take the stock to 57 and change and wills it will break out of the moving pattern. collins thinks this $55 stock is very close to a big move, could very quickly climb to $59 boom like that. what about the moving average? collins says this tells you more about the risk and reward of owning qualcomm stock. it was not very pretty given the-see this shade in gray? it represents 65 days. at the moment the stock is very close to crossing above that key legal. and just like we saw with the 50-day moving average. on top of that, qualcomm is close to a fibonacci replacement level here. he's the medieval godfather of mathematics who many technicians adore because he discovered a series of ratios that appear over and over again in both nature and bizarrely the stock market. right now qualcomm is just a di

that's an oscillator down at the bottom, this is a tool that measures buying and selling pressure in stock. and when it comes to ea, lang says it's been on fire since february. once this stock finishes digesting the recent gain right here, lang believes it could make its way from 109 to 120. les take a look at activision. the stock traded sideways for a few weeks before running it's magnificent move higher. there were people questioning whether it was actually any good or not. they were fools. once again, lang sees signs of buying from investors in particular, look at this, nice ramp, that oscillator has been smoking hot nearly all year. activision had a shallow pull back last wednesday, with the rest of the market. when i say you need a market wide selloff. this stock was not going to be brought down by anything involving washington. you had the jump on that buying opportunity, because the stock came roaring back in short order. lang believes that will embolden the big boys to take a dip. activision has a floor of support, at its 20-day, the green line, which is currently at about 5

next time you're sitting on your deck, have an oscillating fan ne reports said that mosquito landingso people who were sitting near it were cut down by 65%. back to you. >> good hadadvice. >>> the city of rockville just began the second area to ban smoky outdoor areas at restaurants and bars. the mayor and city council passed the ordinance by a 4-1 vote. it bans both smoking and vaping. councilmembers say they'll discuss fines at future meetings. there are no outdoor bans in d.c. and virginia, but the city of la plata, maryland, has passed similar legislation. >>> the d.c. mayor, muriel bowser wants to think about the way people think about missing teens. this week the mayor emphasized that there is no spike and the majority of those missing are runaways who usually come home within a matter of days. she plans to open a this year nearly 900 teenagers have been reported missing. only 28 of them remain so. >>> they might seem like nickel and dime criminals, but some riders not paying their fares on metro buses are getting violent. as scott mcfarland and the news4 i-team found, when they

there is no doubt the trend is up but you miss the point we are seeing a bearish divergence with oscillating see higher highs on the stock and something similar in 2014 before a decent dip in the stocks. it will be interesting if the gains can be held. last impossibility for the sox. vonnie: alex doolittle -- abigail doolittle, thank you. how will the firing of fbi director james comey affect president trump's agenda? sam zell weighed in. i am not sure he has been put off the rails or if it gets him off his agenda. voluntarily, or otherwise, got himself involved in a whole bunch of stuff. so, he was the wounded animal to begin with. and the only question i would ask is what took so long? i do not necessarily have an opinion as to the decisions that mr. comey made, i just think that the timing and the appropriateness of it, you know, affected his credibility. i think this will pass very quickly. i do not think it is a major event. it is interesting that all of the presentations and everyone i have seen, i read "the new york times" and nobody mentioned comey was a republican nominee. trump got

next deck, have an oscillating fan near you. they're saying people with a fan the bites were cut down to 65%. >>> 6:27. time right now. new horror stories out of manchester, england. >> eye witnesses are telling their story. >> it was awful. people were screaming, people were ♪ [doorbell] ♪ ♪ when you have doctors working as a team for your health, you get the care you need to help you thrive. ♪ visit kp.org to learn more. kaiser permanente. thrive. ♪ but it took a twist of fate to find a high-end curler at such a head turning price. and that's the beauty of a store full of surprises. you never know what you're gonna find, but you know you're gonna love it. ♪ >>> terror in manchester. the death toll rises after the bombing at an ari than grande concert. >>> a solemn graduation day. one bowie state student will not cross the stage after a random stabbing at the university of maryland. >>> watching for rain. the timing for rain and what it means for memorial day

. >> the next time you sit on your desk, have an oscillating fan, the studies show 65% of people are to a fan. >> i thought the natural repellents. i know. summer isn't complete without a cookout. >> yes. >> tomorrow on "news 4 today," she looks at the best grills and what you should consider before bringing one home. >>> a countrywide controversy continuing to swirl at the virginia high school. >>> >> the seven figure price tag that could come with changing its name. >>> we are nice and dry. it's actually a little bit cool. 61 in the get free delivery -- -- save big on our most popular living room, dining room and bedroom sets. plus save $100 dollars on every $1000 you spend. the memorial day sale at havertys. life looks good. next bidding startsdding is tat five thousand.uge." do i see six thousand dollars? thank you, madam. seven thousand? do i hear eight thousand? thank you. eight thousand five hundred. advance on eight thousand five hundred. sold to gentleman bidder number 80. "unicorn in rouge" for... eighty-five hundred dollars?!? vanstone

next time you're on your deck, have an oscillating fan next to you because mosquito landings were cut down by 65%. back to you. >>> well, summer of course is not complete without a cookout. tomorrow on "news 4 today," susan looks at the best grills on the market and what should you consider before bringing one home. you can watch us every weekday morning of course at 4:26. >>> no big grilling happening tonight in this area i don't think. >> yeah, not going to be a whole lot of grilling over the next the reason for all the rain chances, the scoop and score from mother nature here. rain likely to be light today, heavier late tonight and early tomorrow. another good shot coming our way thursday. so keep the umbrellas very handy. you already saw it for a quick preview. 80% chance for light rain later today. heavier rain overnight tonight. should be out of here and both executes tomorrow are likely to be dry. we could have rain before the sun comes up and after the sun goes down tomorrow. and 80% chance of rain and thunderstorms on thursday. friday, saturday look nice and dry to get the ho

. >> harris: and it oscillates. we see this happening time and time again. the investigation becomes somewhat of a shiny object, and sometimes it has bared out that there is no evidence to find. but at this point, the president has a lot on his plate. he's had foreign leaders here this week. he spoke with the king of jordan. he has a list of things to get wet, while we deal with things domestically, the world stage is not going away. >> marie: he has an 11 day trip to some very important countries. but getting back to the point here, these are mostly self-inflicted wounds that president trump and his aides have brought on themselves. we need to see the comey memos -- >> harris: that's not a self-inflicted wound? either there is a memo or there isn't. >> marie: president trump said something that allegedly james comey put into a memo for the record. this conversation with the russians in the oval office about classified information, again we can debate whether it was appropriate or not. but that is a self-inflicted wound of something he did. >> david: some of

next time you're sitting on your deck, have an oscillating fan next to you, because mosquito landingso people who were sitting near it, were cut down by 65%. back to you. >> all right. >>> well, summer isn't really complete without cook-outs. i fired my grill up over the weekend. and tomorrow, susan's going to look at the best grills on the market and what you should consider before bringing one home. that's the only kind of grill to get, pat? >> charcoal. >> that's right. >> that's the way to go. gotta have that flavor. >>> speaking of inspect repellants, mosquito season has us thinking about the zika virus. the talks here in washington, to prevent the spread and just how many pregnant women in this country are living with zika. sthm >>> and our top story of the day, terror in >>> right now at 4:30, new information on the terror attack in manchester. >> this afternoon, police identified the lone suicide bomber in that attack. his name he's 22 years old, british national of libyan descent. he was well known to british authorities. >> police raided what is believed to be his home in ma

. >> no because ism is short-term oscillator. so, it can rotate down again because expectations have increased so now the surveys start to roll over, doesn't mean you're going to see a deacceleration growth into a negative territory. you can still rest at a high level. >> do you pay this kind of multiple for that kind of situation? >> i'm on your side. i'm loaded on industrials. that's the thing i worry about we've seen peak pmis. >> sales growth is still quite good. the incremental margins are increasing broadly. i think this really speaks to that recovery. the one thing the next two quarters that's going to happen that will be a surprise, i think cap ex will happen. surveys suggest the tension is there. there's uncertainty around policy, then we'll see that cap ex pick up second thing, inventory build. supply chains have been drained. qi, we saw a big inventory draw down. >> what happens if the agenda of the president is delayed and the time frame pushes out further than you believe it will? >> depends on which part of it. >> i

gdp is oscillating back and forth. in part two inventory onees and think the correct to another -- things that correct one period to another. scarlet: looks like we got some weak q1 to come because of it. market close is next. take a look at the major indexes . less than four minutes, i believe it is a record high for the nasdaq, up. the dow jones industrial average of little changed, this is coming off record highs. joe: i hope it goes as high as the euro. this is bloomberg. ♪ ♪ >> "what'd you miss?" record high, s&p 500 briefly touching a writer before edging lower in afternoon trading and the dollar is raising it is election rally -- its poster at -- postelection rally. tuning in live on twitter? welcome to our closing bell coverage every day. scarlet: we begin with our market minutes. news&p 500 did touch a record in intraday trading. closing down slightly. it made the 2400 mark. we say that in just. there was economic data but it didn't seem to sway investors one way or the other, did it? in terms of the industry

until that happens, i think the fed will say only one or two more hikes this year. 10 year yields oscillatinge first half of the range of two to 2.5. rising inflation. with any luck, recovering grow, perhaps 2.5 to three. still, it imperative policy in the context of history. guy: that is fair to say. -- still, a comparative policy in the context of history. guy: that is fair to say. ofcan start to clear some these hurdles in quick succession, how does that change thinking? james: i think mr. trump will need to flesh out the detail on the tax plans. and how they are going to be funded. that said, what is critically important is that there is -- i do not think it matters that the deal is deferred until 2018 because the market is always looking ahead, and therefore -- absolutely. guy: when you think about the it worry you, does that this is going to take place, or are you kind of less concerned because the ecb is still cracking on a fairly decent clip and the boj is doing exactly the same thing as well? do the two balance each other out in terms of what is happening in the market? i think it wo

>> i think we will also wait between the two -- we will oscillate between the two.l probably have to stand up to it, it's in her nature. ultimately she will be looking for something on the softer side. anna: larry, thank you very much. remember, if you are a bloomberg customer, you can watch this program and all our other programs not just on the regular tv, but also on tv . you get a video stream and you can follow all the charts we use. manus: you can click to the bottom of the band to ask a question to the producer of the show as well. coming up, we has opec in our sites. the trades role on optimism over the extension. oil rallies for a fifth day. can it sustain? this is bloomberg. ♪ anna: welcome back, bloomberg in theak europe," 1:45 morning in new york. the s&p futures suggest weaker at the start of trade. record levels yesterday. let's get the bloomberg business flash with juliette saly. juliette: anna, thank you. ford reportedly plans to cut about 10% of staff worldwide as the ceo faces escalating pressure to boost profits and the languishing stock price

and france was oscillating somewhere between the two in people's minds.e will be a clear reconnection and that there will be a stronger core. tom: maybe there is some hope and maybe there will be some audacity from the new president of the republic of france. we will continue this discussion of europe. in the next hour, we will speak with nick burns of the harvard kennedy school. york, andn, from new washington today, this is bloomberg. ♪ tom: "bloomberg surveillance." tom keene a new york. francine lacqua in london. nick burns to join us next hour. there is a chart about up we go, down we go, and a little bit of a nuance. pro-macron. help me a what mr. draghi needs to do with these politics. is he de-linked from the dance? antonio: i think draw the season seesn -- i think draghi macron as an ally. there is only so much the ecb can do. we need member states to do their job. france was one not doing it, where high unemployment and low high unemployment and low growth. tom: is the credit quality of europe improving? moritz: no. it is going sideways. there h