FX:SPX500 S&P 500 index of US listed shares
Hard to be confident in going long an anything, even Oil , still. Even if OIL bounces here, and it probably may have a day here and there, but to sustain? I don't think so, the Oil Bulls panting at the hope of a true bounce and going long, will be tempted to there demise and those they bring down with them (their money anyways). This descending channel holds IMO, and if it does, to new lows, another 8-24 happens again this time, but all hope will be lost, because it will break the backs of high debt oil mid cap. Just when they think that Iran oil comes on the market in high volumes, and now with US oil exports OK, and solar being funded again with the new budget just passed, bringing price down yet again, oil wars. So until I see huge green spikes, in all sectors, I can conclude any buying is temp at best and is just trying to harder to squeeze every bit they can out of the twisted rag which is drying up by the day now. Rotations to defensive have been going now for a bit. Dollar strength heading down from mini oil spike. And with the rate hike, M&A with zero interest money is no more. Try M&A at higher rates, will not happen. This artificial created and stimulated run is over, and what will be left? Nothing. Yes, I am in the camp of a steep drop here, when they run out of magic tricks and hats with rabbits.