I have to be out of the office this morning, but will hopefully be back before the close. In the meantime, here’s an abbreviated look at what’s driving the “markets” this morning.
USDJPY has rallied 1.05% off its overnight lows, as the BoJ sells 10YR’s at a negative rate (0.24%) for the first time ever.
CL’s Nuff Pattern has extended its gains since early yesterday morning to 6.8%. A Nuff Pattern, for those who don’t know, is where CL increases just ‘nuf to keep SPX on the rise.
In this case, it was ‘nuf to spike ES 27 points off its after-hours lows. Look for SPX to backtest the broken white channel midline around 1945 in its opening salvo.
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