WTIC, weekly2
sp'weekly1b
Summary
*a new multi-year low for WTIC Oil of $37.50, the lowest level since Feb'2009.
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A rather fiercely bearish start to the week in energy land, and that sure didn't help the broader market today.
The one solace for the equity bull maniacs, the market did at least close above the 200dma (2064), along with the weekly 10MA.
Right now, I'd only get spooked on a monthly close under 2050. Otherwise... I simply can't be short this crazy casino.. no matter how bad some of the data/news seems to be.
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Macro-econ chatter, Long with Smith
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Looking ahead
Tuesday has nothing of significance scheduled.
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Goodnight from London