Quick Note: Prior to the FOMC minutes I stated that energy was building and thus to prepare for a larger move out of the coil - yesterday the market managed a small break of the pattern to the UPSIDE and then held on a successful retest before today's nice rally. With sentiment so utterly bearish after seven consecutive weeks down, the market was really in need of some relief. With that being said, we still are likely seeing a bear market rally currently unfolding with a retest/lower lows to follow which I will discuss further tonight. Also some nice trade ideas of late on the LONG side - haven't been able to say that in awhile. Happy Memorial Day weekend to everyone.
Please take a moment to look at the trade ideas.