Last Thursday was a huge distribution day as selling was on a massive uptick — almost triple the average volume of the past 200 days.
Friday, there was a slight rebound, but I was still warning my subscribers not to get their hopes up quite yet. As good as things looked, this appears to be an emotionally charged market that continues to show us unhealthy movements. That tells me that we aren’t in a real bull market yet.
Join me above as I further discuss how last Thursday set us up for more downward action — showing that my Friday prediction is playing out right before our eyes. I’m also giving you key oil levels to watch this week.