It depends. Do you feel safe with a faltering ramp in WTI and slump in VIX holding back the selling pressure generated by a falling dollar complex?
SPX made a nice recovery yesterday, setting up some potentially bullish patterns but failing to follow through on them. Some of those patterns have been under assault overnight, suggesting a potential pop and drop.
Even CL, one of the primary drivers of yesterday’s algo-enthused bounce, isn’t looking so hot right now.
On the other hand, EURUSD is almost to our next upside target and USDJPY is nearing its next downside target. In short, the currency picture should be about to do a 180.
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