In a post on our website yesterday, we noted the fact that Japan’s Nikkei had seen three one-day moves of over 5% in the last six months, but was still down over 20% during that span.  In a similar fashion, crude oil prices rallied 11% last Friday, which was actually the second one-day move of more than 10% in the last month!  So, what does crude oil have to show for those two one-day moves of 10%?  Not much.  Since the close on Friday 1/15, crude oil prices are essentially unchanged.

crudeoil intradaychart

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