sp'daily5
USO, daily
Summary
... indeed, regardless of the close... today has been another failure for the bull maniacs.
The renewed weakness in Oil has surprised many.. and whether you want to call the bounce to $51.73 a sub'4, wave'D.. or whatever... there is no clear floor yet.
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updates into the close....
3.15pm.. Market getting twitchy... sp'1997... a close in the 1980s... breaking the Wed' low of 1988...just about possible. In any case... weakness into Friday opex... and the long 3 day weekend.
3.32pm.. chop chop... market struggling to hold the sp'2k threshold
We look set for weakness tomorrow. and early next Tue/Wed... to sp'1965.
*I realise some are now looking for sub'1900.. but that seems very difficult, not least with the ECB set to spool up the printers... with QE-pomo for the EU capital markets.