11am update - oil causing problems for the bears

With a net inventory draw of -3.4 million barrels, Oil has surged upward, and that has naturally dragged much of the main market with it. With the USD -0.5% in the DXY 93.70s, the metals are holding sig' gains, Gold +$11, with Silver +2.2%.


USO' daily2

sp'60min

Summary

*equity bears just need a daily close <2085 to break short term rising trend.
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Little to add... as the market is battling it out.

Cyclically, we're still set to increasingly weaken as the day proceeds.. especially into the close/early Thursday.

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notable weakness, NFLX, daily

Continues to broadly struggle, if the main market does eventually unravel, first target is $70, then 50/45. The latter of course is a long way down.. but even at that level, the stock would still be 'generously priced'.
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time to cook