One way or another, algos keep on finding a way to spark a rally in the hours leading up to the open. Yesterday, it was a VIX dump (that didn’t last.) Today, it’s a rally in oil and gas futures.
Yet, as CL’s chart shows, these have been bounces on the way to lower prices. At some point, you’d think actual investors would notice. Unfortunately, they’re outnumbered by computers that disregard the logic and intent behind “breakouts.”
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