OPEX Friday

Algos took off following yesterday’s “news” that a China tariff deal was in the works, ignoring the admission shortly thereafter that the news was, indeed fake.  Why no repercussions? Simple.  By then, ES had topped the H&S neckline — stopping out shorts who then piled in on the long side.

VIX’s ongoing smackdown didn’t hurt either.  It continues this morning, along with rises in oil, gas, and USDJPY. continued for members


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