Slight give back of yesterday's reversal rally.
Cash on the sidelines, the age-old hook. It's back:
Feels like the charge started yesterday.
Today is a quadruple witching options expiration: four asset classes of options -- stock options, stock index options, stock index futures options, and single stock futures options -- expire today in a hot mess.
Another hot mess: the Summer Solstice takes place on Monday along with a full moon.
Odd day thus far. AUD down, CAD up, JPY weaker, GBP, CHF & EUR stronger, USD weaker
Fresh topping tails again yesterday. Feels like the whole world is long.
WTI crude declined sharply yesterday yet is reclaiming it now. NG just below YD's fresh highs.
Precious metals got pummeled yesterday along with USD, which is unusual. Copper firm.
Latest wave count updated. Yesterday was not really a surprise.
There is still a small chance that yesterday's low could have marked a wave 2 low of a rising wedge to new all-time highs (not shown), but I simply don't think the market has gone low enough yet. If so, yesterday could have been wave A of and ABC down.
Either way, it feels as if price ultimately wants a bit higher.
Scaled out some XIV end of day.