Charts I’m Watching: Feb 3, 2021

Futures melted up again overnight, reaching the .886 retracement of the late January swoon.

Stocks have been well supported the past three sessions – not by fundamentals, but by a 37% hammering of VIX, an engineered surge in oil and gas futures, and the obligatory breakout in USDJPY.In other words, it’s the same algo nonsense that got us here in the first place.  With all the talk about market manipulation, funny how no one is talking about the Fed…

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