10am update - opening weakness

US equity indexes open moderately lower, with the sp - pts @ 20   . A test of the 2000 threshold would be very natural by 11am.. before latter day strength. VIX is a little higher, but if equities do recover into the afternoon, an eleventh net daily decline will occur.


sp'60min

USO'60min

Summary

*opening reversal candle in Oil

I am increasingly tempted to pick up USO-long... but for now, would prefer to wait another 30-60mins.. see if the main market has another down wave.
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So.. opening weakness.. but really.. it should be clear.. this is very likely just another tease to the equity bears.. and we'll be trading into the sp'2020/30s by end week.

notable strength: TWTR +4.4%.. but really.. those gains sure look shaky.
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10.08am.. Market and Oil in tandem.

USO 5min

Micro cycles are now on the high end.... seeking renewed weakness.