Consolidation Underway? Crude’s Hold Above $100 Undermines the Jawboning Rally

Hopefully you caught Monday’s Measured Moves post. I laid out a lot of expectations from here such as consolidations leading to second legs down, measured moves, potential volatility set-ups and much of it took place today. Yesterday, I argued that the major averages, along with several key stocks and sectors (e.g., NDX and mega caps),…