This is the exact theory i'm working on too. Pending an...

This is the exact theory i'm working on too. Pending an important announcement - no need to rush in just yet. Wider market is still in a downtrend - major indicators like AORDS, S&P500, Nikkei, SSE, FTSE, DAX, VIX, Brent and WTI all suggest we're at the top of the swing oscillation and should expect to trend lower for the next week or two. Minor jumps like today are just volatility driven noise - they could lead to more, but i'm too risk adverse to test the waters at the top of an oscillation.

My sentiment is the market will stabilise once we know what oil's doing. Right now safer just to sit back and observe while the market works through the over-production glut due to OPEC in cowboy mode. If $30 (or thereabouts) is held, confidence will return to the market. If mid-to-lower $20s are seen, then i'm going to have to adjust my trading strategy.