11am update - metals and oil, minor bounce

The main indexes are rather muted this morning. After rather sharp pre-market falls of $15, Gold has largely recovered, and Silver is actually a little higher. Oil is similarly higher. No doubt the weaker USD -0.35%, is helping to kick the commodities upward.


SLV'15min

USO'15min

Summary

Underlying pressure is slightly to the downside today, for the indexes.

VIX daily chart is warning of a possible little spike tomorrow/Monday, but we might only be looking at 14/15s..if at all.

The fact tomorrow is opex, with 5bn pomo really messes things up for those bears seeking downside.
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*I'm leaving USO along right now, I'm certainly not chasing it higher.

SLV is a tempting short on the next 15min down cycle, which might start later this afternoon.
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