late morning update

Oil still trading above $50 as the European session comes to a close.Market most likely to trade sideways until we approach the close and then the game of will it or won’t it settle Above $50 begins.Higher Oil  higher  and stocks weighing on Bonds .Take a look at this graph  of intraday E-mini spoo s.

spoo2

The vertical Line is 10:30   the unofficial Close of Europe.Look at the action in Spoos post 10:30 ,A  steady decline.This is a common  occurrence movement one way or another. This tells me that Europe was driving the action today,and once that action is gone Spoos start to drift or move to her own Beat.A great indication of What was important to markets in the A.M.  and   it sets up some nice volatility  around 10:30 everyday.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.