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Oil Follows Through from Wednesday's Upside Reversal as ES Continues to Levitate on More QE


Crude Oil (lower chart) is on the move higher (for a change) as it attempts to follow through to the upside in the aftermath of yesterday's upside-reversal spike.

A sustained climb above $41.41 should trigger follow-through to $41.90-$42.00-- the line in the sand for a near-term buy signal in Oil.

As for ES (Emini S&P 500), well, there certainly does not seem to be any fear, or desire to take some profits ahead of tomorrow's Jobs Data.

I guess after the recent BOJ and BOE infusions of more QE there is no risk in equities!

Mother Nature is shaking her head, but it is what it is.

At this juncture, only a decline back beneath 2150 will question upside continuation directly to new all-time highs. A decline below 2141.50 is needed get some downside traction.

Otherwise, the bulls remain in directional control.

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