Market Update - Tracking Down The Short Squeeze In Energy Stocks

Continuing where I left off in yesterday's update, and going back to, "When The Cat's Away; The Mice Will Play", and "Never Sell A Dull Market", as I've alerted to in recent blogs, and in the annotations in the Public Charts Area, the retail shorts have been squeezed out of names like Diamond Offshore, up 30% in a week, and several other beaten up energy names, and this has driven the entire rally, including on the $NYSE, and because markets are rigged, the energy sector is bound to hold up into Sept. Options Expiration, which is only a little over a week away. 

$IXE (Energy) - yet another breakout above the 50 day ma., and a retest of that support, going into yesterday's close. Should get a nice bounce at the open.

$DJUSEN - DOW Energy -  here's what the rally looks like on a 2 hour chart. Not too impressive.
I'll be adding this chart to the public charts area.

Energy is a volatile trade, and Oil doesn't look so hot here. I think anything can happen, and if the $VIX breaks out above 17.50 it's going to be risk off again.

$USO - WTI Crude - reversed after throwing out the top of my little triangle pattern. Watch for a little DCB this morning.

Opening bell opens in 10 min

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