{"id":5087,"date":"2016-08-24T11:09:18","date_gmt":"2016-08-24T15:09:18","guid":{"rendered":"http:\/\/www.thet3trader.com\/?p=5087"},"modified":"2016-08-24T11:09:18","modified_gmt":"2016-08-24T15:09:18","slug":"crude-oils-freaky-mirror-image","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2016\/08\/24\/crude-oils-freaky-mirror-image\/","title":{"rendered":"Market Update: Crude Oil&#8217;s Freaky Mirror Image"},"content":{"rendered":"<p><strong>Get a Quant Edge in Today\u2019s Markets<\/strong><\/p>\n<p>Tomorrow after the close, Rob Smith is hosting <span style=\"text-decoration: underline;\"><strong><a href=\"https:\/\/t3campaigns.clickfunnels.com\/optin9845794\">a FREE webinar<\/a><\/strong><\/span> on his unique Quant Edge Trading Strategy.<\/p>\n<p><span style=\"text-decoration: underline;\"><strong><a href=\"https:\/\/t3campaigns.clickfunnels.com\/optin9845794\">Read all about it<\/a><\/strong><\/span><\/p>\n<p>The headline number on this morning's crude oil inventory report was an almost perfect mirror image of last week'<\/p>\n<p>The consensus was -850K. The actual number was +2501K.<\/p>\n<p>Last week, the consensus was +950K. And the actual number was -2508K.<\/p>\n<p>Weird, huh?<\/p>\n<p>Now let's talk about the reaction.<\/p>\n<p>WTI crude is over $1 off morning highs, and the <strong>VIX<\/strong> has spiked to 13.20.<\/p>\n<p>The weak oil report is impacting sentiment already.\u00a0The<strong> ISE Sentiment Index <\/strong>is at just 39 (39 call options bought for every 100 puts).<\/p>\n<p>However, as it stands now, we're only seeing intermittent weakness in equities.<\/p>\n<p>The <strong>S&P 500<\/strong> is down just -0.2, and I'm seeing one very important pocket of strength: the<strong> S&P Biotech ETF<\/strong> (XBI) is up 1.4%, and it is just plain hard to bet against this market when biotech is doing so well.<\/p>\n<p>We have not had a real down day since June 27.<\/p>\n<p>If today is to be the start of something real for the bears, they've got to attack biotech.<\/p>\n<p>They've already started beating on some of the hot new issues like <strong>Acacia<\/strong> (ACIA) and <strong>Line Corp.<\/strong> (LN), but biotech is key.<\/p>\n<p><strong>P.S. Don\u2019t forget to sign up for <span style=\"text-decoration: underline;\"><a href=\"https:\/\/t3campaigns.clickfunnels.com\/optin9845794\">Rob Smith\u2019s FREE webinar<\/a><\/span>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Get a Quant Edge in Today\u2019s Markets Tomorrow after the close, Rob Smith is hosting a FREE webinar on his unique Quant Edge Trading Strategy. Read all about it The headline number on this morning&#8217;s crude oil inventory report was an almost perfect mirror image of last week&#8217; The consensus was -850K. The actual number was +2501K. Last week, the consensus was +950K. And the actual number was -2508K. Weird, huh? Now let&#8217;s talk about the reaction. WTI crude is over $1 off morning highs, and the VIX has spiked to 13.20. The weak oil report is impacting sentiment already.\u00a0The ISE Sentiment Index is at just 39 (39 call options bought for every 100 puts). However, as it stands now, we&#8217;re only seeing intermittent weakness in equities. The S&#038;P 500 is down just -0.2, and I&#8217;m seeing one very important pocket of strength: the S&#038;P Biotech ETF (XBI) is up 1.4%, and it is just plain hard to bet against this market when biotech is doing so well. We have not had a real down day since June 27. If today is to be the start of something real for the bears, they&#8217;ve got to attack biotech. They&#8217;ve already started beating on some of the hot new issues like Acacia (ACIA) and Line Corp. (LN), but biotech is key. P.S. Don\u2019t forget to sign up for Rob Smith\u2019s FREE webinar.<\/p>\n","protected":false},"author":6,"featured_media":4976,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[158,104],"class_list":["post-5087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-uncategorized","tag-crude-oil","tag-oil"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Update: Crude Oil&#039;s Freaky Mirror Image - T3 Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.t3live.com\/2016\/08\/24\/crude-oils-freaky-mirror-image\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Update: Crude Oil&#039;s Freaky Mirror Image - T3 Live\" \/>\n<meta property=\"og:description\" content=\"Get a Quant Edge in Today\u2019s Markets Tomorrow after the close, Rob Smith is hosting a FREE webinar on his unique Quant Edge Trading Strategy. Read all about it The headline number on this morning&#039;s crude oil inventory report was an almost perfect mirror image of last week&#039; The consensus was -850K. The actual number was +2501K. Last week, the consensus was +950K. And the actual number was -2508K. Weird, huh? Now let&#039;s talk about the reaction. WTI crude is over $1 off morning highs, and the VIX has spiked to 13.20. The weak oil report is impacting sentiment already.\u00a0The ISE Sentiment Index is at just 39 (39 call options bought for every 100 puts). However, as it stands now, we&#039;re only seeing intermittent weakness in equities. The S&amp;P 500 is down just -0.2, and I&#039;m seeing one very important pocket of strength: the S&amp;P Biotech ETF (XBI) is up 1.4%, and it is just plain hard to bet against this market when biotech is doing so well. We have not had a real down day since June 27. If today is to be the start of something real for the bears, they&#039;ve got to attack biotech. They&#039;ve already started beating on some of the hot new issues like Acacia (ACIA) and Line Corp. (LN), but biotech is key. P.S. Don\u2019t forget to sign up for Rob Smith\u2019s FREE webinar.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.t3live.com\/2016\/08\/24\/crude-oils-freaky-mirror-image\/\" \/>\n<meta property=\"og:site_name\" content=\"T3 Live\" \/>\n<meta property=\"article:published_time\" content=\"2016-08-24T15:09:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2016\/08\/oilrefinery.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"540\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Comeau\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Comeau\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/blog.t3live.com\/2016\/08\/24\/crude-oils-freaky-mirror-image\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/blog.t3live.com\/2016\/08\/24\/crude-oils-freaky-mirror-image\/\"},\"author\":{\"name\":\"Michael Comeau\",\"@id\":\"https:\/\/blog.t3live.com\/#\/schema\/person\/f43d6289d690d77d2d21b55beeb1508b\"},\"headline\":\"Market Update: Crude Oil&#8217;s Freaky Mirror Image\",\"datePublished\":\"2016-08-24T15:09:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/blog.t3live.com\/2016\/08\/24\/crude-oils-freaky-mirror-image\/\"},\"wordCount\":247,\"publisher\":{\"@id\":\"https:\/\/blog.t3live.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/blog.t3live.com\/2016\/08\/24\/crude-oils-freaky-mirror-image\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2016\/08\/oilrefinery.jpg\",\"keywords\":[\"crude oil\",\"Oil\"],\"articleSection\":[\"Articles\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.t3live.com\/2016\/08\/24\/crude-oils-freaky-mirror-image\/\",\"url\":\"https:\/\/blog.t3live.com\/2016\/08\/24\/crude-oils-freaky-mirror-image\/\",\"name\":\"Market Update: Crude Oil's Freaky Mirror Image - 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Read all about it The headline number on this morning's crude oil inventory report was an almost perfect mirror image of last week' The consensus was -850K. The actual number was +2501K. Last week, the consensus was +950K. And the actual number was -2508K. Weird, huh? Now let's talk about the reaction. WTI crude is over $1 off morning highs, and the VIX has spiked to 13.20. The weak oil report is impacting sentiment already.\u00a0The ISE Sentiment Index is at just 39 (39 call options bought for every 100 puts). However, as it stands now, we're only seeing intermittent weakness in equities. The S&P 500 is down just -0.2, and I'm seeing one very important pocket of strength: the S&P Biotech ETF (XBI) is up 1.4%, and it is just plain hard to bet against this market when biotech is doing so well. We have not had a real down day since June 27. If today is to be the start of something real for the bears, they've got to attack biotech. 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