Fasten your oil belts
More strength in equities
US Thanksgiving provided a short week gone by. The ES Tagged on +0.84%, YM +1.26% NQ a paltry +0.26% and RTY +0.64%. Tech is indeed flinching as I mentioned last Sunday. Being short tech- never a good idea.
This week's highlight is of course NFP Friday, ADP & Jolts data on Wednesday Thursday providing the appetisers of volatility and what to expect come Friday.
There is an OPEC meeting taking place Thursday, where the organisation is meeting to decide on further delays to the reintroduction of production of oil. To break this down to its most simple terms, stay with me. The meeting was to take place this evening, but is delayed due to travale schedule conflicts. MBS has already arrives in UAE in adavance of the meeting.
I write more about the context of it here in The Oil Report.
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