European Brent

USO is up almost 2% today, as commodities outperform while stocks underperform, a clear positioning unwind to start the month of June.  I wrote about my thoughts on USO in Friday’s Name That Trade post …

I mentioned the developing wedge in both the SPX and crude oil in this morning’s macro wrap.  Crude oil is especially interesting because the WTI contract has developed a long-term wedge, but the European Brent …