A wild night on markets with oil falling again before spiking, while US stocks followed the positive move in Europe before volatility returned with vengeance and plunged most bourses into the red.
SP500 had a massive 3.5% range, surging 20 points on the open and then losing 50, as oil price volatility played its part. The four hour chart shows significant selling pressure overhead with downside at 2000 points still on target, and then perhaps a capitulation below:
The DAX was up 1.6%, reflective of most European bourses, before it was pushed down in post close futures trading but has managed to breakout above its previous high and still remains on trend:
The full text of this article is available to MacroBusiness subscribers