sp'60min
Summary
Hourly chart allows sp' 1620 by the Friday close, and that would do nothing to dent the current up trend, which stretches back to the April'18th low. Its possible we could even get a weekly close in the 1640s, which would really start to rattle those who are continuing to short into the ongoing rally.
--
*Oil is on the slide, but I don't particularly want to go long until USO is 33.70/60s - where there is a very clear gap to fill. That doesn't seem likely today, perhaps tomorrow.
USO, 60min
Considering the geo-political issues out there, short Oil would seem outright stupid at the moment, never mind the fact that Oil is ticking higher on the bigger weekly/monthly charts again.
So, I'm going to sit back, and see if we can break <34 later today.
--