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What are beans telling us about the market?
Beans as a barometer? Absolutely. It’s much more in line with the main reason the stock markets remain sitting just beneath all-time highs. What’s the message? Wait for a pullback.
Crude Oil Inventory Reaction
Yet another private inventory buildup hits the market as crude oil traded higher into resistance on talk of more OPEC production cuts, as oil demand is expected to be weaker in 2020.
Are Financials Ready to Roll Over?
When looking at the sector weighting of the S&P and Dow, financial are significant. As the YM and ES are nearing their own overbought resistance, financials (XLF) are setting up the same.
Next Stop to the Downside
Of course a passed Brexit deal could mean a little strength on the Sunday open but reports that PM Johnson has the votes was known before the close, so where is the next step to the downside?
Crude Oil Short Setup
After a large inventory buildup reported by the EIA, echoing the private data also showing a buildup by the API… what did crude do? It rallied. And this is exactly what short sellers needed for a trigger.





