“The stock market is never obvious. It is designed to fool most of the people, most of the time.” – Jesse Livermore

The low liquidity chop continues to be driven by CB policy and headline risk as we start to settle into the main part of this earning season. As usual, it’s very hard to call this kind of action, all we can do is continue to focus on some of the key dynamics driving the bigger picture view and levels. For the time being, we would continue to focus on intraday action in: financials, crude and the vix. More on this in today’s session…

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Wishing everyone a great weekend ahead.