The ridiculous up/down/up/down/up/down we’ve been living with in this market for, what, the past 18 months or so has been maddening. Will it end any time soon? I suppose it’s possible, but I’ll believe it when I see it.
A big event would be if the ES manages to crack 2030.
Even more crucial, though, is crude oil, which matters more than Kuroda, Draghi or Yellen. The weekly inventory report hit this morning showing a surprise increase in crude stockpiles, which rose by 1.3 million barrels to 541.3 million barrels. Obviously, a softer report would have made life that much easier.
