With one foot out the door to head to the airport, I’ll leave this brief post. The market has rallied all week long, with the notable exception of the plunge at Monday’s open. I deliberately said “open” because that was the low for the week. DeepSeek turned out to mean DickSeek, because the market has utterly stopped caring (or doesn’t believe it). Even with the rally, though, the /ES has not yet conquered its most recent “lower high” and is well below its lifetime high.
The precise same facts hold true for the /NQ:
What’s saving me today is crude oil, which continues to pulse lower, chunk by chunk:
