1pm update - Oil back to positive

Not surprisingly, WTIC oil has turned back positive after moderate weakness across the morning. The $60 threshold is within range before end month. Equities are flirting around break even.. a third consecutive net daily gain looks probable.


USO'60min

Summary

Oil is being bought on every minor pull back.. the $60 threshold remains an easy target before end month.

The real issue is whether it gets stuck around $67... or the mid 70s. Considering the US dollar looks set to confirm a mid term top (more on that later tonight)... $75 looks a 'reasonable' target this summer.

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notable hyper-strength, NFLX, now +16%..

.. as the media highlight talk of $900/1000 upgrades. It would seem many still consider a PE of 250/300 as still a bargain. Hmmm
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VIX update from Mr T.


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back at 2pm