sp'60min
USO'60min
Summary
Market has relentless POMO-fuelled underlying strength. That will doubtless continue into June, but for now, we do look set for a little weakness into Thursday.
Bears should keep in mind there is a very big pomo of 5bn on Friday, which also happens to be opex. Could be a bit choppy to end the week!
*with equities likely to open lower tomorrow, it would not be surprising if USO is back in the low 33s again. Perhaps even 32s are briefly viable. In any case, I'll look to go long (again) early Thursday.