First off, I don’t know about you, but for me, the quantity of “good news from aboard” emails (e.g. dying or otherwise in-peril individuals who want to send me 40% of their fortune) has soared in the past few weeks. I’ve received eight in just the past few minutes. Does anyone on the planet actually go for this sort of scam? Incredible.
More importantly (and more relevant), I’m pleased to see crude falling this morning. Crude inexplicably soared yesterday after getting a report showing that inventory was more bloated than ever. Such a report initially sent crude plunging (which makes sense) then soaring (which makes none). My trendine held, however, and oil seems to have been effectively repelled by our resistance line.