S&P E-mini Futures:
Floating higher after three-wave correction overnight.
China trimmed over 6% last night, but Europe is a Sea of Green amid G-20 festivities.
More friendly advice from Marketwatch:
Bloomberg with the latest narrative:
News for Bloomberg: if oil stays "lower for longer" no one's going near EVs. Governments may salivate over the prospect of unlimited tracking of driver-less cars, but a "widespread adoption of EVs" is basically a forecast for $200+ oil.
Slight Risk On tone thus far.
Prices firming, possibly gathering strength for another assault of highs.
Virtually no one is thinking $200 oil at the moment, but if WTI crude can hold above 28.70 it may at least take on a more impulsive feel.
NG down another 2% but volume drying up fast. Thinking speculative calls on each.
No breakout yet from the building triangle in gold. Down along with silver and platinum. Palladium and copper flat.
Yesterday's reversal was welcome, especially after price knocked out one of the wave scenarios right at the open before I pressed "publish."
From a wave standpoint, price is now in a rather ambiguous spot, however.
Nothing stopping it from further backing and filling into the 61.8% level in the 1860s (note also the gap at 1864.78).
Nothing stopping it from heading higher, either. So here's another way to look at things if it does: