US equities are continuing to cool from the earlier high of sp'1979.. now u/c @ 1958. VIX remains very subdued in the 22s. Despite the USD +1.0% in the DXY 95.70s, Oil is showing some distinct strength, +2.7% in the $45s.
The strength in Oil is a major problem for those equity bears who think we can fall from here. If Oil can rally into the next EIA report this Wed' morning, the broader market will likely be able to battle upward.
No doubt some are getting riled at this post 11am wave lower.. but really.. market is likely just solidifying a floor
*I'm getting a little frustrated on the sidelines... I suppose I could just about stomach picking up a small USO-long this afternoon. Hmm. Oh well, I can't short it.