Treading Water

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CL nailed yesterday’s downside target and is getting a bounce, which is enough to trick the futures into a 5-pt gain just ahead of the open. 2016-11-01-cl-60-0600The questions are how big the backtest will be, and how long it will last.  We remain short from 2139.23 on Oct 27 [see: Distress Call] and yesterday’s downside targets remain unchanged.

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