With a weekly net surplus of 3.1 million barrels, Oil has seen a rather strong reversal, although cyclically it was due to retrace. Equities have naturally been affected a little, with the sp' cooling from 1999 to 1985. With the USD +0.1%.. Gold is under a little pressure, -$2 @ $1144.
You can see how the 5min cycle was on the high side prior to the EIA number. Broadly though... Oil still looks outright bullish on the bigger daily/weekly cycle.
Again, if I 'had to' take an Oil trade, it'd be long.. from this afternoon... but for now.. I'm not particularly interested.
notable weakness.. TSLA, 4.9%
.. relative to the main market.. this is one ugly performance.
11.16am.. What a mind frak.... swinging from 1999 to 1981.. and now the 1950s are back on the menu.
I can only imagine some bears were short stopped at the open.. and now throwing bricks at their screen as the indexes are turning red.
11.20am.. notable weakness.. AAPL -1.3% in the $109s..
11.28am.. sp -3pts.. 1977.. a sig' down swing of 22pts.. and its not even 12pm yet.
A daily close in the 1950s to spook the weaker bulls?
Oil, -1%... is not helping!