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Small Caps hit yesterday's average price and stopped, for now. Fact that market opened at the Pivot Point just makes it that much harder to guess where to next.
Oil is an easier guess. Media says crack spread is really good right now, so refiners will continue to put through as much as they can just as Saudi etc shipments start to decline. As price moves towards the magic $50 the shale people can start up their DUC wells very quickly, and there are a lot of them. Unlike the tankers with their 40 day sailing times, once you start up a shale well the oil gushes out and you can't turn it off if we find the nation oversupplied this fall or early winter.
this bull may have legs. I don't think it's just a test of day high then pullback. let's see.
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