Monday, 13 May 2013

2pm update - another micro-wave of weakness

The indexes are back to slightly red. Hourly cycle charts offer weakness into early Tuesday. VIX is +1%, but still in the 12s. Even VIX 14 looks difficult in the near term. Metals and Oil remain moderately weak.




Very dull Monday, and despite some econ-data across each day this week, I really don't expect much of anything.

*I'm certainly not shorting anything...but neither am I going long right now.

Perhaps early Tuesday weakness will offer some tempting levels, especially for USO.

2.31pm... as I feared, Oil seeing a secondary wave lower, but we're a fair way from breaking the morning low.

Seeking weakness into the close..and early Tuesday.