***XOI & OIH, note the XOI closing at a record all-time high while the OIH didn't close over its recent all-time high, it did put in a new all-time CLOSING high... this coming despite oil & gas prices dropping on the electronic futures exchanges... interesting...
Also the "up" volume on the OIH was noticably below normal: *3-month average is: 5,454,520 *Friday's volume which allowed the OIH to move +2.38%: 4,334,800
Now as far as oil goes, being that the stocks closed at new all-time highs on Friday, you'll see in the last chart that the Light Crude futures contract is just above its 50 day SMA, does Friday's action indicate that starting first thing this week that oil gets defended at its 50 day SMA and makes yet another push to test record all-time highs set in the wake of Hurricane Katrina? Or is the 50 day SMA going to bust?... We sure could have an exciting week ahead either way...
Market Data 
Markets 
AI
