Beware the Bat

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SPX reached our upside target of 2104.21 yesterday, completing a Bat Pattern at the 88.6% retracement of the drop from 2134 (May 20) to 1867.08 (Aug 24.)2015-11-03 SPX Bat 0618

A Bat Pattern produces a reversal at the .886.  And, sure enough, the futures were off about 8 points until 90 minutes ago.  At that point, USDJPY and CL got busy, working to erase as much of the losses as possible prior to the open.

updated: 11:44 AM EST

updated: 11:44 AM EST

But, can they?

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