After Friday's reflex rally I would normally expect another move lower this week. If this were to occur than by early next week we would get a good oversold reading for the first time since November. However, we are now in the seasonally strong turn of the month period and in a market that has refused to correct for many months.
If we get weakness today I might make a small purchase to try and take advantage of the seasonal strength. For the most part I am saving my firepower for a better risk/reward setup. Being disciplined with ones purchases has not been a very rewarding strategy in recent months but has served me well over time.