Traders,

This is what we call a headline driven market as investors await any news headline which creates a large reaction like we just saw into the last hour of trading today.

Coincidence? Not really if you understand that The President watches the markets like a hawk.

I talked about NOT being bullish oil with all of you last night and Dan also mentioned it in The PDF report as well.

AVOID BUYING HIGHS ON OIL, AND LOOK TO SHORT WAS THE MESSAGE DELIVERED AND HERE WE ARE.

All it took was the overnight headline on the G7 countries approving a release to knock it down then the end of day tweet to drop it harder.

This is why I spent so much time last night expressing why you have to AVOID news and pay attention to price action and how to play this with a few different tickers and structures.

Amateurs buy on headlines when it’s too late because they read newsletters that are written by people who are not actually trading.

Or, they’re reading articles from journalists assuming there’s an insight.

Price action tells you where to look, always.

Where do we go from here?

I have a few quick notes to add on from last nights letter inside.