*XOI - If it holds up here into the close, then my initially slightly bearish stance just after Monday's open might be changed to a neutral stance. Why the cause for concern or change? Well, I feel that the world's markets are at an extremely pivotal point here in April, but besides that fact, let's face it, how many times this year have we seen the dollar, oil, and gold all up comfortably in the afternoon intraday session??? ...Well don't look up now, but it's happening today...!!!
It might be an anamoly but it's definitely worth noting as soon as something like this happens!... Whipsaw action like this isn't uncommon either, but given the preceding trend and the strength and tenacity of it in the face of doubt, bears may have trouble staying the course here if there trains get derailed... then all of a sudden that $69/barrel is looking alive again, as I pointed out earlier, in order for that to happen, oil needs a strong end of week close this week... who knows what happens at this point as the markets remain firm today despite oils pump... that should favor oil bears, but I bet oil bears are a bit nervous today!...
Crazy market action today... pivotal period upon us this month...
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