The "stairstep" climb in RTY off the morning plunge is a pretty good example of it. I've seen plenty of squeezes in the QE era, but that 4.80% intra-day move off the lows was something to behold.
WTI Crude oil (CL) had a bad day when Russia indicated it has not agreed to extend production cut-backs into July. Just when the price looked to be breaking out to $40 / BBL, instead it broke down to $31 / BBL and change. Tomorrow is a big day with the EIA report. This market remains volatile to say the least. https://www.marketwatch.com/story/o...-weighs-easing-supply-cuts-in-july-2020-05-27
Taking a small short at 3039.25. Willing to add on close/overnight tomorrow with a 50 handle stop on full position. Looking for a move under 2,800 to lower end of monthly range.
Absent news, I don’t think 2800 is in the cards for a long time, but hey, anything can happen I guess