USO Chart

 

if USO found support, then energy stocks will do well in the near term. According to JK, Big Oil Co priced in $70, not $80 a barrel. In other words, the stocks are priced at a discount.

tb

VIX - Oct 4 -

The VIX needs to fill its gap around 12ish. Once that is done, the market will have rallied, probably to some former support levels, which could possibly become resistance.

but first, we rally until the VIX falls to 12ish. that's the next step...

I know FOCM minutes are out Wednesday. so, expect some volatility this week.

TSLA has some "D" news on 10/9.

If TSLA announces a driver-less car (self driving car), its $300 bucks in a blink.
October 300 calls are about 0.25.

if not, it might just be another "sell the news" trade.

tb