Today's market update and calls are brought to you in video form here. Doha meeting failed, Iran doesn't wish to self-impose sanctions so they are going to max out. New contracts in the front, gapping down even with Contango still below previous contract's Friday close. Yikes!
This week XLF, XLE, and RUT bumping against major resistances. These are what we're holding the market up. If oil turns south, it's back to the same 1940 pullback we've been saying all month. And in my charts note that both bear and bull cases have a similar pullback before fully playing out. Bulls let it pull back, this might not be the dip you want to buy at.
Also glad I was short oil and long TVIX going into Friday. Happy to wake up to that tomorrow.
Happy trading everyone!
Submitted April 18, 2016 at 01:07AM by Dtp_matt http://ift.tt/1Sm9pg8
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