Look No Further

If you’re looking for a reason for ES’ 12-pt rally off yesterday’s lows, look no further than the usual VIX dump and oil ramp.  Within a few minutes of each other, oil recovered above its SMA200 and VIX reversed off what was a promising (for bears) rally.Consequently, ES and SPX recovered back above their SMA10/20s just as the cross went negative.  Funny how that seems to happen over and over again.

The key question: can oil’s ramp continue, now that the UK’s inflation data (+2.3% YoY) has joined the US in exposing the problem with $50 oil?

continued for members


Sorry, this content is for members only.

Click here to get access.


Already a member? Login below

Remember me (for 2 weeks)

Forgot Password