12pm update - no downside power

The main indexes are recovering from the opening declines, and a marginally higher close is very viable. If today was merely a wave'2/B, the next move higher should at least be into the sp'1720s. Metals are starting to struggle, whilst Oil is back to flat.


sp'daily5

uso'daily2

Summary

*I am long Oil, via USO, and I'd like the mid 37s for an exit.
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No doubt, many equity bears who were overly excited about the overnight futures declines..are starting to get real mad right now.


VIX update from Mr T.



time for tea.