3pm update - chop into the close

US equities are set to close moderately weak, with the sp -4pts @ 1982.. having earlier hit 1991. VIX remains broadly subdued, -0.4% in the 19s. With the USD -0.7% in the 95.40s, there is some strength in commodities.. Gold +$11, with Oil +4.4% in the $48s.


sp'60min

USO, daily2

Summary

*if tomorrow's EIA report can please the market.. then WTIC will be testing $50.. with USO up another 3-4%.
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Little to add.

A day of relative chop... further equity weakness is probable tomorrow... but from a trading perspective, it looks a lousy trade.

A move above the FOMC (minutes) high of sp'2020 looks due.
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back at the close