The best news of the day was crude finally – FINALLY!!!!! – broke support. I’ve been waiting weeks for this. Honestly, this is seriously big news. The bull market in energy that started January 20th is over. I can’t be more plain about it.
The excitement from the Brexit (that John Holmesian black bar) is totally gone, and now we’re into boring-ass little candles, with the ES sorta kinda valued at 2093 give or take a few points. It looked like we’d get a nice sell-off today, but Ramp Capital saved the day, as usual.
As an aside, it seems to me the Euro is poised for some more weakness for weeks or even months to come.
Of course, the next big event is the jobs report tomorrow. Good luck out there, and I’ll see you in the morning.
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