Midday Missive

VIX... is trading above the mvg  200 DMA as all the long commodity trades are being unwound.

Gold….has to hold the 1245 level to remain viable.

OIL..inventory #’s in 30 minutes will be telling. Failure to hold a break into 37.00 +- 5 cents will be pivotal. Price action below is the catalyst needed today to break the Indexes out of the recent range to the downside.

USDA crop report is @ 11:00 CDT.

JJG needs a close over 30.40 to break out to the upside.

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