11am update - Oil reversal

With a weekly net surplus of 3.1 million barrels, Oil has seen a rather strong reversal, although cyclically it was due to retrace. Equities have naturally been affected a little, with the sp' cooling from 1999 to 1985. With the USD +0.1%.. Gold is under a little pressure, -$2 @ $1144.


sp'60min

USO, 5min

Summary

You can see how the 5min cycle was on the high side prior to the EIA number. Broadly though... Oil still looks outright bullish on the bigger daily/weekly cycle.

Again, if I 'had to' take an Oil trade, it'd be long.. from this afternoon... but for now.. I'm not particularly interested.
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notable weakness.. TSLA, 4.9%

.. relative to the main market.. this is one ugly performance.
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11.16am.. What a mind frak.... swinging from 1999 to 1981.. and now the 1950s are back on the menu.

I can only imagine some bears were short stopped at the open.. and now throwing bricks at their screen as the indexes are turning red.


11.20am.. notable weakness..  AAPL -1.3% in the $109s..

11.28am.. sp -3pts.. 1977.. a sig' down swing of 22pts.. and its not even 12pm yet.

A daily close in the 1950s to spook the weaker bulls?

Oil, -1%... is not helping!