Direxion Daily Natural Gas Re (GASL): Yeah, another rally that does not last i...

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THREE-DAY-TRADER

Re: someone1 post# 347

Thursday, 01/21/2016 8:24:10 AM

Thursday, January 21, 2016 8:24:10 AM

Yeah, another rally that does not last it seems. Purely a market yet for primarily intra-day trading, quick flipping.

Futures are down so far this morning (and Asia was down), along with Oil that as usual correlates.
We'll likely see a build in WTI cushing Oil & also Distillates/Gasoline stock piles again when EIA data comes out this morning, which the market will likely interpret again as weak demand, so good chance it pulls back more yet as the market has been focused on weak economic demand picture for some time now.
We will see if today support holds (Oil & Stock market) all-while a pull back occurs, and if so, it could be a short term bullish sign finally.

And then this news below happened just now to help the market.
The market loves its easy money from Reserve Banks:

http://finance.yahoo.com/news/wall-street-eyes-more-pain-110220444.html
Futures turn positive after ECB keeps rates unchanged, Draghi eyed