OIL…has just completed the first significant re-trace of the past 2 years with a 98 dollar print. Can it go lower? Sure, however it has not had a reversal on the point & figures for 800 points. General rule of thumb…don’t press your luck.

We will sell the Oil on a re-test of the break out of the 101.40-80 area the first time up, however by the looks of it, this is not going to be anytime soon.

Nasd 100…The real fireworks would be on a close below 2625 today. This would put in an ORL week after yesterday’s ORL day.

Spu’s…weekly ORL level is 1354.

The rest of the day will be a Time Frame Trade, highlighted by more Dollar buying and the liquidation of all Risk Assets.