Bull Case

Morning Gang

News News News, it breaks with cycles. Yesterday proved to be a bloodbath. Blowing right through the level that needed to hold for the run I was looking for from the 360 degree level at 854. We had a late day attempt to get 850 but bounced right off to close at 842 and never getting any kick. My final level before the ultimate test of the 741 level is 825 or 270 degrees up from 741. We need to recapture 854 and hold to put the market back in a stronger position. Positive is my USO position and the action yesterday...it almost scored back to back outside up days. Again I use the numbers for guide posts not set in stone trading numbers...action at the numbers is the key. While i'm IT bearish nad LT bearish I believe we need to rally to set up the bigger down leg to materialize.