Fasten your seat belts for some volatility this week. The VIX did spike, but the half day did well to limit the damage from distribution. The heavyweights could come back from vacation and pickup the ball on Monday. If we do get any blood or carnage this week, it’ll be short lived, so bears be nimble (always watch for the “Monday Morning Flush”).
Will the economic numbers get more buyers this week or does oil have them spooked? This market could surely weather a selloff, but if it extends past Tuesday, the oscillator will slip towards the negative… So keep an eye on the wheel. -MD