If I were short here, I’d be buying. Here’s a few random indicators (my favs of late) that paint the picture.

Click images to enlarge

• WSJ buying on weakness $166 million as of 3:30pm
  
• SPX/SPY is deeply oversold
• SPY is sitting right on 50SMA, a decent support level
• SPY volume low on this drop
  
• Large traders are buying (bottom box)
  
• Precious metals are holding up well, and also dropped on low volume. Showing my pet SLW:
  

Yes, I’m actually committing to a direction here.

The other night, I had the weirdest 2-part dream. My dreams are often prophetic (yeah yeah, whatever). If you’re into that sort of thing, here’s the dream message: fuel – on fire. Doesn’t take a rocket scientist to predict that oil / gas are going higher. But “on fire” means A LOT higher.