Probably not. Although WTI got a nice bounce off our SMA200 target…
…USDJPY’s initial pop above its SMA200 has quickly faded (again) and headed for lower lows…
…and SPX, after tagging our target at the channel midline, is set to run into resistance on the open.
VIX remains a wild card, as always. But, if its rising channel holds this morning’s test (13ish), it will soon be testing its SMA200 at 16.54, a 22% gain from current levels.
If the channel doesn’t hold (the usual state of affairs) then we’re in for more meltup — which would shock absolutely no one.
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