sp'60min
Summary
Yes, the above chart is even more 'bare bones' than in the last hour. There simply isn't much to note, other than it now looks, downside might be limited to 1940s.. perhaps... Wed/Thur?
Regardless, it is a lousy short, with the underlying MACD (blue bar histogram) already pretty low, and we could be in the 1970s tomorrow afternoon.
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Since it was mentioned to me....
RIG - and the other drillers are doing okay.
RIG looks to have easy upside into the 48/50 zone by mid July.
I have no position in RIG, having dropped on the earnings gap higher... which was when the stock got smashed -7% later that day.
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Notable strength: FCX, +3%, and the miners ETF of GDX is also on the rise.