Bounce

Traders have been looking for a bounce the past few sessions after the market came down in an abrupt manner earlier last week. Today, we are finally seeing that bounce which should last a session or two. If the market were to come down again after this bounce into early next week the market would be maximum oversold. That would create a low risk setup for a multi day rally.

3 comments:

Anonymous said...

Doug Kass,someone you have quoted several times on this blog, is calling for the s&p to hit at least 1150 by this fall.

Anonymous said...

Like I posted Sunday, everything I read this weekend was very bearish, so we should be bullish.

Tsachy Mishal said...

I am waiting for the easier trades. If the market gets oversold into early next week I will get long otherwise the market will have to rally without me.