*XOI has a triple-trendline bottom (connect the last 3 lows), and the 10 day SMA has crossed the 50 day SMA, just like in the CRB index, I said that this in the past has created a buying opportunity within 2 trading sessions (I said yesterday regarding the CRB)... with oil as the biggest component of the commodities index, and of course with the oil stocks usually leading oil higher then oil is likely to have a sizeable bounce here...
Now I had initially thought oil was going to the 40's, but what I believe has held it up is the weak dollar. So this can be a very volatile sector at this time, especially if the dollar magically has one last pump to much higher levels before it falters...
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