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Oil Saudi declared dream is an 80% increase in the cost of gasoline. My opinion is that if you live in a world where you can arrest your relatives and take away their money to buy mega yachts and fancy paintings then of course this is reasonable assumption.
Real world is US exports through the roof until the crack in the Scottish pipe is fixed then it is back to normal post winter holiday slide.
Long term threat- I read last week GM has now sold over 20,000 Bolts and Ford, Mercedes BMW etc are all right behind them. Just watch US fleet average five years from now!
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But most sectors are in the upper half of their daily range this AM. And IBB has made a complete circuit from weak dog to strong dog-- now hitting HOD.
Last edited by Daniel on Tue Dec 12, 2017 11:07 am, edited 1 time in total.
What I see is yesterday's high after the cash close tested in the middle of the night looking like a double top. But it doesn't count until the US cash session tests it. Moment of truth on getting to that new all time high.
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Triple witch coming up so volume should be increasing across the board. Once we get past Chair Yellen's presser on Wednesday (and I don't think she will tank the markets as a goodby) I would believe the options expiration maneuvers will dominate the action.
I would think that the traders in the Marriner Eccles building would love to give their beloved leader a new all time high as an appropriate send-off. It is unlikely but would be to ironic to bear if it becomes the new multi-year top as well. Just say in.
Tomorrow: It’s not just the FED (rate hike is assured), but also the Norges Bank, Bank of England, European Central Bank, Swiss National Bank will announce rate decisions ALL IN AN 18 HOUR WINDOW, and other central banks will follow later.
Timeline and good charts/tables here: https://www.bloomberg.com/news/articles ... since-2006
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.