Out of Control?

The overnight news cycle has all the earmarks of events spiraling out of control.  Yet, consider that:

  • EURUSD and CL bottomed right where we anticipated
  • DX and TNX topped where expected
  • USDJPY has bailed out of the rising channel from mid-October as expected
  • SPX should tag the downside targets we identified several days ago.

In other words, the news cycle has actually accommodated our charts, confirming tops/bottoms we called and enabling other targets to be met.

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