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[Screwball]

1 hour ago, gehringer_2 said:

going to be interesting to see if the S&P closes below ~6800 tomorrow. Trend says yes, but that's been a support point for all of the dips in '26 so far.

The S&P is holding up pretty well considering what's going on. More concerned with the 6762 level that, if breeched, would take us back into the channel from the huge sell-off in October, which puts 6550 in play as the next stop.

Incoming chart porn warning.

Reminder, the yellow arrows were Fed rate cuts.

On to the story of the day - energy, and the price of crude. It was fun to watch today. Got as high as $82.16. Little under $80 as I type this. For perspective, a 6 month chart of crude and what it looks like in the last week.

This isn't new, when you look back in history - given the price of crude right now. There are some parallels. Look around Jan 15, and later what they call the 12 day war. Blowing **** up is directly proportional to the price of crude it appears. 

 

There is an old saying. This time is different. Seems like some **** is getting blown up. Next stop according to the charts is around 92.