Since Monday we’ve been experiencing a strong pull back in the SPY. Check it out:

 

 

But Crude oil has not followed in the same rhythm.

 

 

And what about the T bonds?

… the chart does not want to come out, but I notice this “rally” is reversing as I type.I wonder if crude has the ability to touch the 50s as we receive earnings report during this month. At least puts are still in control in the option market. Do not forget that tomorrow we have option expiration for crude, so there might be some action.