Yesterday’s decision to go long at SPX 2115.74 paid off in spades, even more so if you held on through the close. CL, which backtested the white channel top as expected, verified the falling purple channel on the bearish EIA data dump and then proceeded to break out of that same channel overnight.
Likewise, USDJPY — which had broken down through a rising TL from Sep 26 — magically recovered overnight.
The eminis are ecstatic over these developments and have now bounced 30 points from yesterday’s lows. There’s a dark cloud on the horizon, though, which could spoil the party.
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