Watch the Dollar and Oil

The markets, near-term, are bouncing. I think we're going to $110-$112 on the SPY. I would look to short if the SPY reaches its daily 200-MA.

I would like to see the UUP fall into its daily 20-MA, because I am eying GLD and would like to short it @ $124. If GLD can close above $121.40 it will go to $122 then $124.

USO was saved this week. $32.10 is the level to watch each week. We have not had a close below $32.10 on a weekly basis. Oil continues to look very bearish to me.

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