I'll be unable to post tomorrow (July 23rd) until near the close. Today's impressive oil induced rally takes the short-term RSI's up to pretty heady territory. I wonder how much oxygen is up here? Asia is up pretty strong as I write this in the late evening. Have a good day.
P.S. Happy Birthday Little Brother!
CLOSING UPDATE: Another bull day. Bit of a shooting star doji though (bearish), probabilities are for a consolidation pull-back tomorrow or Friday. Oil is about as short-term oversold as equities are short-term overbought. Looking to unhedge between SPY $126.00-126.75 in this camp.
Blog to Read: VIX & More ~ Apparently Bill Luby is thinking along the same lines ~ The Headwinds Index. Bill is a creative analyst and a pithy writer, I highly recommend his blog.
No comments:
Post a Comment