Crude oil has bumped back above the MA 50 and bears watching here. In this morning’s update it was noted that commodities are not interesting until there is a reason for interest. This is a preliminary one.
US Stock Market
Nasdaq hit 5000, market sentiment became over bullish to an extreme and yesterday was a down day. Indexes put a tail on their candles and closed above the low of the previous day. SPX was the worst potential offender of the major indexes yesterday. Had it closed below Monday’s low we’d have noted that as short-term bearish.
