Nighttime Resistance

Well, I could get used to this. It seems that the bulls keep trying to power the market higher, but in their new role as Feckless Flops, they just can’t do it, even with central bank ninnies running around trying to jawbone (a trick which has run its course). Witness what keeps happening with surprising regularity:

More than this, witness what’s going on with crude oil, which I think is about to plunge to new lows.