OVERBOUGHT OIL, OVERSOLD MARKETS

OIL PRICES are massively stretched, extended and overbought beyond the beyond.

The STOCK MARKET is quite the quite oversold. Not massively and frankly, as we scan 1500 names every night, we are surprised the big indices are not down in the mid-teens if not worse.

SENTIMENT has now gone coast to coast for obvious reasons. When everyone moves to the bearish side, it is often said there is no one left to sell.

Bottom line remains. The big indices will open up this morning back in a more than 4 month tight trading range with a very nice technology kick save this morning. The close Friday was not very good but looks like the bigs got on zoom this weekend. (a little sarcasm…maybe) As technology goes…

Of course, the financials/banks had better get better. Many have been downright nightmarish in their drops.

Don’t blink. The duh comment is the news is very fluid. If we were betting, our bet would be things get settled down over there by the end of the month if not sooner. Politics are going to sway all eventually.