It's another risk-off day in the markets. Investors are locking in equity profits and moving towards safe havens such as US Treasuries. The worry continues to be about oil, which dropped below the $60 mark yesterday for the first time in over five years. The selling in oil is continuing today, and it is coupled with further indications of weak demand.
Not too many investors are afforded the luxury of watching the markets ebb and flow throughout each trading day. This luxury can provide some unique insight, as you begin to see investor reactions on a real time basis and therefore are allowed a clearer window into what is driving their behavior.
I know I'm going to take a little heat from subscribers, as always, for showing intraday charts, but I want to highlight some interesting action that I believe partially explains what we're seeing in the markets today. The chart below shows ... Log in or subscribe to continue reading.