Is this the top for oil?

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Major indices are higher yet again this Friday morning. Global oil price have fallen over the past 24 hours, though this comes after a huge rise over the previous week. Facebook (FB) has made a major change to the algorithm that determines what you will see in your newsfeed. Friends and discussions are up, news, and, to Wall Street’s horror, ads, are down. FB shares are down 3.83%.

At present, the S&P 500 is up 0.34%, the DJIA is up 0.63%, and the NASDAQ is up 0.18%. West Texas Intermediate crude is trading at $63.61. Bitcoin is at $13,930 on Bitstamp.

Industries doing well today include airlines, multiline retail, and aerospace & defense. Industries showing weakness include internet software, leisure products, and healthcare technology. The VIX is up 1.8% to 10.06 after closing on Thursday at 9.88. The most heavily traded options this morning are for Bank of America (BAC), 8,163 January-19 31 calls on the board. The total put/call ratio as of 10:00 AM was 0.45 (689,883/311,434). The advancers/decliners ratio for NYSE stocks is 1,504/1,252 while the advancers/decliners ratio for NASDAQ stocks is 1,594/1,133.

Symbols: BAC FB
Julian Close

Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.

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