10am update - hourly charts suggest weakness

The main indexes are due at least a minor pull back, but we're very likely only looking at 1%, if that much. VIX is 6% higher, but still in the low 13s. Oil is weak, -0.5%, and looks set for more significant declines later today, perhaps into early Tuesday.


sp'60min

Summary

A marginally interesting start to the week. Hourly index charts look like we could cycle lower across today, and perhaps into early Tuesday.

Bears should keep in mind, we have a mid-size POMO on Tuesday..the day when stocks only go up, remember?
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Oscar video..



Its no surprise that he is as bullish as ever, but then..he has been right for most of the last six years.
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Oil is lower, I may go long near the end of today... 33.60s would be the target, but that looks unlikely today.


USO'60min

back at 11am