My level of frustration with Europe is very high. Everybody seems to know what the answer is except for the ECB. They must aggressively purchase peripheral bonds. That is the only solution other than allowing the system to implode and let the chips fall where they may.
Assuming that we continue in this state of limbo, we are likely to be stuck in a trading range. Another down day tomorrow would likely be a decent entry point for a long trade within our range. At the end of tomorrow we will no longer be overbought, short term sentiment has turned negative and we are getting stretched on the downside. Have a good night.