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Archive for May 16th, 2017

May 16,2017 Oil Rally is really trying to push up, IEA says there will be a balance coming

May 16th, 2017

But with Oil up .74% leading into API data tomorrow, our Futures are flat in the first hour of the European Session. Shanghai Futures had a fizzle in the rally from yesterday with having most things flat to down. Shanghai Housing Market continues to slow. China Auto Sales are slowing too of course, which totally explains the 10% cuts that Ford will be making. IEA came out with their Prediction of “A Balance  Coming”…ah China guys, lol. IMHO that isn’t going to happen. US session has housing data which should follow the global trend of slower cuz China Money is coming out of US real estate. RBA met and held rates. German ZEW will be posting in a bit. The Bulls so want Oil to rally strong into the “Seasonal Driving Season” coming soon. China’s Belt and Road Conference is still going on.

May 2017