Breaking Out?

SPX has.  ES hasn’t.  If TPTB play their cards right, this morning’s dip will be limited to 5-8 points that puts a well-defined bearish falling channel in the rear view.  If they don’t, then the sharp rally over the past three sessions was all for naught.

For clues, we’ll start with CL.  It went from completing a bearish H&S Pattern on a slew of bad news to a 4.5% rally in the past 18 hours — enough to pop SPX out of that falling channel.  As usual, the rally didn’t end until minutes after SPX had closed for the day.2016-05-11 CL 5 0615continued for members...


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