SPX gave us a surprise Friday and USOIL also drop with SPX.
But I believe SPX's pull back won't last very long time because DXY implies that there is no rate raise soon.
Back to USOIL, up-trend support is very close, this area is 0.5-0.618 area, the same place we begin to fly this Wednesday ,Thursday with a nice api and eia data.
If USOIL cannot stop drop, I...
I haven't seen any sign in DXY that we will rise rate this month, so I think market is too nerves on SPX.
RSI shows SPX is over sold in one day.
2110-2120 should be a good support area.
Up-trend-line's support is also close.
If I see some stop falling sign in red area, I will long SPX.
This afternoon, I shorted uvxy.
I see two potential bats . However, after today eia data and market reaction, we still cannot see there is a hint that we stop at yellow bat's D point,.
So I think we may wait until the green bat's D then short it.
A green bearish butterfly's end point is same as a ab = cd,
we can short it now, target maybe the orange bullish cypher 0.68401
then we can long to the yellow cypher'D 0.75680
also we can see another ab = cd