No real trade for us today guys. Volume is just too light and there isn’t enough conviction to make things interesting. We did push down into the OL range but the pivot held it up and there was no real “grind” there which I would want to see before going long from the high side of the range. It just isn’t high probability enough for my taste with too much chance of it not being satisfied and wanted to push down a little lower and at least test the news spike at 17.50. But even that is weak as it is essentially meaningless. 15.75-16.00 is the real test you would love to see for a rotational long. Anyway, we did have a typical first push scalp op off the pivot in the OL range, but that is going to do it for us today. For those hanging around I wouldn’t be surprised if we see some short covering going into the long weekend. With the tepid to slightly positive slant to the news (in other words it isn’t all terrible per se) I suspect lots of big position traders might be scared to stay short into the long weekend with Asian and European markets having a day ahead of us. They can always re-sell which could cause a big sell-off on Tuesday, but then again maybe we just grind around the 22-24 center support and close right there. Whatever you do, be really careful. these conditions are as tough as it gets for rotational traders. If you don’t have a high degree of confidence in exactly what you are doing and why, you should seriously consider sitting out today.