Now I have to remember what I was going to post about....
OIL....
I think for the next 6 trading days... the "Rally"... Will... as Kudlow says(I know we hate Kudlow, But I've said it for months)... the rally depends on oil...
OIL MUST BREAK THE CYCLICAL TREND. which is at the 120 level.
We have spent 5 or so days at the 123 level.... and this is flirting with the cyclical trend. I Today is EIA data.. as is next week... I expect that if we break that level it will be TODAY or next tuesday...
The market could just muddle from now till then...
Or maybe there is a surprise in the employment data... which we won't believe.
Tuesday, July 29, 2008
hmm...
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