To the Brink…Again

Thanks to last night’s 1.9% ramp job in CL and a breakout in USDJPY, S&P futures have been pushed up to the brink of another breakout.  This will be the 9th since mid-April.  So, if you’re a swing trader and feeling a little frazzled, you’re not alone.  2016-05-24 USDJPY 5 0618For those in US time zones, it’s like placing a bet on a high stakes blackjack game, then having to wait until you wake up in the morning to discover whether or not you’ve busted.

So, while I can tell you where SPX is probably going in the next few minutes, no one except the CL and USDJPY button pushers can tell you what happens after that.

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