Ambush Ahead

SPX and ES got within a point of our neckline targets yesterday before the algos panicked.

It’s not that the necklines or SMA200s won’t get tagged – keep an eye on the close — it’s just that not enough wildebeest had gathered at the watering hole.  With VIX safely back down below its SMA200, this shouldn’t be a problem for long.

Targets that were tagged yesterday included CL, RBOB and TNX.  Targets yet to be tagged include USDJPY, COMP and ZN.

Should be an interesting day ahead!

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