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Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,057 since Dec 2013
Thanks Given: 4,409
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I'm not saying I'm bullish in anyway but I don't think they look that similar at all.
Prior to Aug 24th we had two consecutive 2% down days and 4 consecutive down days in total (6.3% total).
Yesterday the market was up nearly as much as it was down today. In fact this week, the market has been up 3 days out of the 5 and this weeks drop (2.2%) is actually small compared with last weeks (6%) and the week of Aug 14-21 (5.8%).
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,057 since Dec 2013
Thanks Given: 4,409
Thanks Received: 10,225
Saying that, the equity markets this week seemed to have followed oil's rapid descent.
Of course similar to equities, Brent is open on Monday as normal, and WTI will be tradable on Globex, so Europe could take oil higher or lower.
Big down day today with a low volume market on Monday could lead to large traders moving the market a large amount in the direction of least resistance. Down.