Thursday, 5 May 2016

1pm update - oil is starting to cool

US equities remain in minor chop mode, sp +3pts @ 2054. Most notable right now is the price action in oil, which has started to cool. The current black-fail daily candle should be at least somewhat concerning to the equity/oil bull maniacs.




Little to add.

Market is seeing a day of minor chop.. ahead of the jobs data.

Cyclically, the setup will favour the equity bears tomorrow, not least as the bigger daily/weekly cycles are leaning bearish.

time for some sun....