Morning Brief

So far it seems like the "recent", business as usual, buy the gap and some buying at lower levels in AH last night and then run the market higher.  We have one trade, RINO that was on last night's list that's up almost 5% already for new entries, it's been on the list so for older entries the gain is even bigger.

The dollar (using UUP as a proxy) appears to be under some accumulation, this may put some pressure on the market and possibly oil. It's too early to glean anything from 3C on the market, just looking at the price pattern, for the uptrend to have a better chance or the bounce, this pullback should not exceed the gap opening lows. DBO appears to be under continuing accumulation, that would be the same for UCO and USO but to a somewhat lesser degree. Interesting that both oil and the dollar are showing accumulation, it harkens back to Allan's comment about the Iranian nuclear facility being started up and the obvious tension that would cause in the Middle East.

We'll keep watching.