month one of 2015 passes correct formation still in play
Thesis still stands, pyramid gains here.
Stop - to resistance or slightly above.
Fews ideas here to possibly confirm.
1. Oil led via fundamentals in its own market
2. Divergence means the prices will revert back to its mean? correlation or whatever? Think pairs trading.
3. volume supports correction, markets behind this.
4. lots of short covering in WTI spot, however no major fundamental changes here
5. 10% correctin in stocks can mean prices still very soft in crude
6. USD follow correlation beautifully. conveniently timed to euro problems. Markets are linked?
Overall trend set still in play, hold to guns. Main play is stock correction which is lagging.
Fundamentally don't "feel" real material fundamental strength here need see people take risk off for anything to continue.
Possible swans? Will think about that more later.