Is there any amount of CL ramping that can compensate for what’s going on in USDJPY? Apparently so, because the eminis are off only 10 points in the midst of a USDJPY bloodbath. Were it not for CL’s coincidental 1.25% rally, it would be much, much worse.
SPX tagged yesterday’s target, then eased a little lower still — meaning the next downside target was probably in play. Look for it to be nailed in the opening hour.
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