$83+ Oil..Can't comment on trading today I was in Chicago. I do see that Oil took out resistance on heavy volume but a disconnect from Oil Stocks shows no confidence that Oil prices will continue climbing. I figured that US Inflation would be the driver for Oil and it was, they're talking about refilling SPR again this year when Oil trades between $65-$72 so the US is trying to calm the bulls down with forward predictions. We'll see what tomorrow delivers and at what level profit-taking hits because of uncertainty but as of tonight I don't see why Oil couldn't hit $85. Both tomorrow and Friday have the US releasing Data at 8:30am. I'm surprised that nothing really moved today with Oil and Gold stocks up only pennies. You can lead a horse to higher Oil & Gold but you can't make him buy shares. Even the DOW was flat today from uncertainty. It's going to be hard getting anyone excited about driving SP higher judging by today's lackluster performance. Oil and Gold are the real winners while the USD is back at the bottom. Hopefully, I won't have any 5am calls.
Optimi, Pessimism, and Realism