12pm update - underlying trend remains strong

The main indexes are mixed, although the default pressure remains to the upside. Precious metals and Oil look like they could be floored, although there will be no clarity on that until early next week. USD is still building gains, now +0.64%. VIX is +1%


sp'60min

USO'60min

Summary

With the Bernanke out of the way, market can get back to low volume melt mode.

The only concern for those on the long side should be the rising USD, although the weekly/monthly charts are currently looking vulnerable.
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*I didn't quite nail the floor in USO earlier, but my entry was actually a little under my (gap fill) target of the 33.60s. Now..I wait.


VIX update from Mr T.



time for lunch

UPDATE 12.34pm.. Oil starting to show a good turn now.  USO back in the 33.70s. A weekly close in the 34s would be bonus.