Transports Look to Bounce/ USO is in the Area

These have been horrible performers and compared to the Dow Industrials, they couldn't be giving a worse signal of non-confirmation.

Even though these are already among our core shorts, I would love to be able to get another entry for those interested. I'm not so sure if I would play a bounce in transports as they have been so weak, but I certainly would short one. I'll have charts out in a few minutes looking at both possibilities.

As for oil, we are in the area, but I wouldn't act to rashly, we'll have good signals when it's time to enter a position, they essentially just gapped on the weaker $USD overnight as the move we are looking for (corrective / down) in the $USD is underway.

We'll have to see if gold will give a similar opportunity.