US equities are a little choppy, if still leaning on the upward side, as s/t momentum is still ticking upward. Regardless of the exact close, a push to teal gap appears a threat, before ‘normal service’ resumes. WTIC $108s. Gold $1986.
sp’60min
VIX’60min
Summary
Suffice to add… a day for the bulls. Yours truly is sitting it out. You may call it ‘overly cautious’. I’m just not in the mood to complicate things right now.
I’d consider long GLD and maybe USO CALLS, but I want to give the market early Thursday to push higher… before the next reversal.
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notable oil ETF: USO, 60min
Orange gap would be a more natural place to floor, as seems possible early Thursday.
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notable gold ETF: GLD, 60min
Yellow gap…. maybe?
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notable mining ETF: GDX, 60min
Orange gap?
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notable stock: SLB
Schlumberger is lower with the sector. The bold will be looking to buy, with natural target of the $54s, which doesn’t look that difficult, whether end March, or within April.
back at the close…