We’ve been beating the inflation drum for months, wondering when the folks behind the curtain would finally pull the levers to reign in energy prices. Yesterday was a good start, as gasoline and WTI futures were both off sharply.
So far, [VIX] has put the brakes on at a backtest of the recently broken straw-man trend line. If it can remain below the red TL and the SMA200, and USDJPY keeps ramping, stocks will suffer a mild pullback.
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