Normally I’d be happy to see the ES down 4 points (which, these days, is enough to get excited about), but in this ridiculous up/down/up/down toggle-rific market we’re in, all it means is that maybe we’ll be red today but we’ll sure-as-hell be green tomorrow.
The endless Othello game continues!
The red line I’ve drawn is what remains key, intermediate-term: that is, support on the ES at 2030.50. If we can break that, we can actually move this stinking market a little lower.
On top of that, crude oil really needs to move lower within its wedge and, if we can just fantasize a bit here, break below the red line. After all, Gartman is bullish of oil in dong terms, so this has really got to happen.
