12pm update - afternoon chop

The market looks like its put in a spike floor, and will probably now churn for the rest of the day. Oil is significantly above the lows, but the precious metals remain relatively weak. Dr Copper is warning of 'trouble'.


sp'60min

USO, daily2

Summary

I'm holding to the original outlook from last week.

Blue V to come..which will complete by late Wednesday/early Thursday..and that will complete the large wave from last November.

*weekly charts are rolling over.  More on that later.

RE: Oil. I'm guessing USO will get stuck in the low 34s Wed/Thursday..and I will consider shorting that too!

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VIX update




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