Bleary Eyed

I am bleary eyed from a red eye flight from San Francisco so this mornings update will be brief. The good news is that the market is still oversold and investors have not yet embraced the current rally. A continued chop higher would not surprise me and we could see something more if the ECB stops dicking around. The bad news is that the market has worked off the worst of the oversold reading so a move down is no longer out of the question. I think the bulls have  a slight edge but a few more up days and the edge will likely go back to the bears.

No comments: