Friday considerations: Bouncing off Thursday’s sell-off. U.K. Prime Minister resigns. China equity markets bounced for the most part and Europe is trading higher in the 7:00 a.m. EST hour. Oil needs to rebound throughout the day for U.S. equities to rebound all day. Treasurys are selling off with yields higher, still inverted with 3 month–10 year (this will concern investors). Financial sector spider etf (XLF) needs to finish week above the critical gravity point of $26.50. 3-day weekend ahead, volume should be light so there is the probability of some whipsawing moves in the market today. VIX at 16 implies 1% daily move. Contango is still pretty light at roughly 2.5% this morning. Adding Alibaba (BABA) to my shopping list.