Wednesday, 7 October 2015

11am update - Oil reversal

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.


USO, 5min


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!