11am update - holding significant gains

US equities remain significantly higher, but have seen an initial pull back from gap zone resistance. Indeed, the opening jump higher, offers the bears a brief post-FOMC flash lower to a new gap zone of 2025/22, before resuming higher. Oil is +1.4% in the $36s, and that is certainly helping energy stocks.


sp'60min

USO'daily2

Summary

*a second net draw down in oil inventories would really help the broader market. Look to the EIA report tomorrow.. anything -2 million or more would probably be enough.
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Not much to add.

I'd like to be at the big table at PRINT HQ this morning. I'm sure the discussions are rather interesting...

'So... is it 25 beeps... 13 or 12... or maybe just 10 ?'

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notable strength....

RIG, daily

Even a move to the $16/17s won't negate what has been a disastrous year.
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back at 12pm