After the “crude shock” from Sunday, which sent oil prices ripping over 5% higher, equities immediately followed. Both ES and NQ were up healthy double-digit amounts. And then……..

As of this post (just before the opening bell), ES, TF, and NQ are all red. Crude oil is up, of course, but off its highs. I would also like to add that, frankly, just about all the “good” news that could shock oil higher is done. OPEC did their historic announcement, and it was followed up this weekend by the news of pledges from non-OPEC countries as well. I wouldn’t be surprised to see us work our way back to close that oil gap this week.