USDJPY tagged our next downside target yesterday at the same time that VIX came within .05 of our next upside target. Given all that, you’d think SPX might have finished in the red rather than 6 points in the green. And, it would have, had CL not spiked higher on a leak of OPEC’s latest goal-seeked supply-demand “data.”While SPX closed positive for the day, the pattern is looking positively moribund — desperately in need of a growth story that rings true. If it’s going to backtest anything at all, the algos certainly haven’t gotten the word.
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