In recent weeks, oil traditionally jumped following DOE data that showed inventory builds because, well, gasoline and distillate inventories had gone down. Today, oil jumped… actually jumped for the second time in just over 12 hours on the same exact catalyst first reported by API last night, when DOE confirmed that in the past week there was a substantial drawdown, something previously ignore when it was to the upside; and as we said earlier unlike in recent weeks however, algos decided to ignore the build in all other categories including gasoline, distillates and Cushing, and simply decided to surge higher because finally the one thing they had been waiting for so long, finally took place.
The result: WTI has rose as high as $37.60 before starting to fade.
That however is irrelevant for S&P algos, which soared from today’s lows to intraday highs in the span of minutes, using oil as the momentum ignition catalyst, and never looking back.
And now you know what stocks went from low of the day to highs, in the span of minutes.
Запись Stocks Surge From Day’s Lows To Highs In Minutes, Tracking Oil Tick For Tick впервые появилась crude-oil.top.