I Am Back From Holiday! :)

I am back from my Shen Zhen holiday and I am sorry if it got some of you worried that I may stop writing altogether. :) Shen Zhen is a well organized city with a couple of ok beaches. The only drawback is that the number of pickpockets on the street beats the number of cockroaches running around! In fact, I had my pouch unzipped half way before I noticed something was wrong! Luckily, I spotted the pickpocket and warded him off. What about police? Well, policemen don't exist on the streets of Shen Zhen, at least never within my visual range, so don't bet on it. So, if anyone of you are going to Shen Zhen in China anytime soon, take note of pickpockets.

Ok, back to the US market!

Oil took a HUGE retreat today closing back down into the mid 130s, giving a spike to the stock market led by the transportation sector. The real question remains, does this spell the start of a correction in oil price? Certain the fundamentals for oil is eroding by the days but the technicals still put it in a strong bull trend and supports it by a strong rising trend line. Everytime it touches this trend line in the past, it rebounded to new highs. In fact, that was what it did back in June, May and April. What will happen this time round? We will need at least the rest of the week for the technicals to play out in order to arrive at a conclusion. For now, the market continue to be uncertain and could go either way but it certainly is inclined a little towards producing the dead cat bounce or relief rally that we have waited for so long.