Thanks to last night’s 1.9% ramp job in CL and a breakout in USDJPY, S&P futures have been pushed up to the brink of another breakout. This will be the 9th since mid-April. So, if you’re a swing trader and feeling a little frazzled, you’re not alone. For those in US time zones, it’s like placing a bet on a high stakes blackjack game, then having to wait until you wake up in the morning to discover whether or not you’ve busted.
So, while I can tell you where SPX is probably going in the next few minutes, no one except the CL and USDJPY button pushers can tell you what happens after that.
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