It seems like it’s been forever, but most of our targets are now being tagged or are on their way to being tagged. So, if I hear one more talking head on CNBC say “no one saw this coming,” I’m going to lose it.
After two weeks, WTI’s flag pattern finally broke; it’s off another 3% this morning and likely to reach 57.93 later today — completing a sweet 13% short from Apr 23. If 57.93 doesn’t hold, look for 55.55.
USDJPY also finally broke down and is headed south fast. If/when it breaks 109.88, look out below.As soon as VIX pops back above its SMA200 on its way to a 20 handle, we’ll know SPX/ES are finally going to be cut loose.
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