There’s not much to be get excited about in these past 24 hours as we ease into the last session of the quarter.  RBOB dropped to our initial target but seems to be hung up there for reasons we discussed yesterday.  Stocks are levitating nicely, but one gets the sense the other shoe might be about to drop.

continued for members…I have some meetings this morning, so I’ll post and dash.  The only potential excitement I expect today is RB and possibly CL selling off.  As discussed yesterday, it’s not necessary.  And, the current floor under RB might be telling us to take profits if it hasn’t dropped further today.  Re SPX/ES, adventurous types might take a chance on shorting over the weekend as we have yet to experience any kind of backtest post the 1.272 tags.

More later.

UPDATE:  2:50 PM

No surprise, but VIX is dumping and stocks are jumping.  ES has a clear path to 2532, but SPX ran into channel resistance at 2518.  No telling whether or not it’ll melt up any more today.  But, the meltup is overdone, so I’d guess we get a gap down on Monday.  Would I bet on it?  Probably not.Meanwhile, RB is finally breaking below the latest floor — verrrrrry sloooooowly.    Off about 1.8% so far today.  Still feel fine about our targets, would still be cautious about holding short over the weekend.  1.50-1.51 for initial range and, if that doesn’t hold, 1.4375-1.4436.

Gold is getting closer and closer to the SMA100 but not closing the deal.  It makes me think the ultimate prize is the .618 at 1264.50.  But, I’d be surprised if we didn’t get at least a bounce at 1273.

I have a 3 hour drive in heavy traffic ahead of me, so pardon me while I duck out early.  I have a lot of stuff to post still, will hopefully get it up on Sunday.

Have a great weekend, everyone.