Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Earnings Season Starts

|Includes: iPath GBP/USD Exchange Rate ETN (GBB), OIL

It's earnings season again with Aloca kicking off earnings today, this should be a volatile week considering the complacency of the VIX and the bullishness of the markets, especially after last weeks dismal jobs report.  I expect the VIX to bounce higher over the coming sessions if earnings begin to falter, the markets are getting weary and could do with a pullback.  The next few sessions will be key to setting the tone.

GBPUSD is struggling to hold gains, any pullback in the market will boost the dollar and hurt this pair.  I'm still looking at 1.5250 on this pair to get long, or 1.47 if the former gives way.  If the rumored Portugal bailout materialises over the next few sessions then the Euro could take this one down with it even further.

Watch out for Oil as a pipeline closure may support this pair but it could be time to take profits as when the line is functional again the market may correct back to low $80's maybe even down as far as $75 due to lack of seasonal demand.

Metals have came off the boil but are holding ground at present, I don't see any reason to get long at the minute.