Stormy Weather: Jan 6, 2016

In a repeat of Monday’s pre-open, just about everything is off this morning.  We’ll start with CL, which is testing Dec 14’s lows and nearing our next downside target.2016-01-06 CL 60 0527Along with USDJPY, it should allow SPX to reach our next downside target at the open [see: Happy New Year, 9:46 Update.]  In short, while it feels like the “market” is out of control, it’s playing out exactly as expected.

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