S&P E-mini Futures:
Higher on follow through from yesterday's rally.
Crude oil pump & dump.
Hearing "91 dead ahead" from the trader I like to fade regarding USD. This time I'm in the correction camp too, but not that low. USD just registered a Paul Montgomery Magazine Cover Indicator Alert.
Today however the USD is rallying. AUD & CAD down, EUR down. CHF & JPY down.
Still no liftoff from deeply oversold.
WTI crude made another rally high at 52.42 on increased Open Interest and high volume. The 60 area is a big opportunity to pass or fail miserably. Continued OPEC pumping (chart shown above) should make for interesting times.
NG fresh rally highs. No volume yet. Momentum fading on longer-term chart.
Gold down, silver flat, platinum and palladium higher, copper down.
Needs new highs above 2214.10 or risks a bull trap and non-confirmation with DJIA.
Yesterday's action poked through the 2207 volume shelf before rolling over, and ended with 50% less NYSE volume than the 11/30 high. Shorts may begin to act soon.