It remains a very quiet Monday, although we are again breaking new index highs. The metals and Oil remain a little weak, with the USD holding minor gains of 0.2%. Weekly charts continue to warn of very significant upside across the summer.
Yes there are divergences on the weekly charts, but it doesn't seem to matter.
*I remain watching Oil, I'm in no hurry to jump aboard. Perhaps it'll start to cycle lower into the close..even extending into early Tuesday...before the pomo money kicks in?
Downside target would be USO 33.50/40s
VIX update from Mr T.
Those May19's will implode to 0 on May'22, - VIX opex is next Wed'
back at 2pm