Futures nailed our next downside target last week, and are slipping a little more this morning to test a key channel line.

continued for members…

The key will be whether or not VIX can break out of this aging channel. If it rises above the SMA200 (17.78) – more downside from stocks.  Otherwise, we get at least a bounce here.Currencies are also at key support/resistance lines.

Oil and gas are testing support: CL at the SMA10 and RB at its SMA200. The recent rise has pushed rates higher, where they are curretly nearing our 4.75 target.

I’m back in the office, but will be at half-speed for the next few days as I recover from surgery.  Thanks for the many emails and calls!

GLTA