Caution is still warranted. Even though we’ve had a nice rebound off the recent bottom and some of the market leaders have been acting well, corrections usually don’t end this way. Normally, there’s more fear than we’ve seen. All the same, anything’s possible with the amount of monetary liquidity sloshing through the [...]

Probably not just yet even though some of the leaders I follow like Goldman Sachs, Google, Apple and others are, as I write, breaking through on the upside past their resistance points. I don’t expect the correction to be completely over until the Greece situation is resolved.
Right now, the thing to expect [...]

Correction may be over, but caution is still warranted. This could be a one day fakeout. Bernanke is speaking tomorrow and that could be a negative for the markets. Upside momentum is strong today some of it due to the shorts getting squeezed and having to cover their positions with the [...]

We’re now in oversold status and that usually means some kind of meaningful bounce is imminent. I can’t say that this correction is yet over considering outside forces like the sovereign debt crisis in Greece, Portugal, Spain, etc. playing out over the next few weeks.
This correction will most likely continue for bit longer and [...]

Nice rebounds in the materials and commodity stocks. Banks doing nicely. Not ready to say that the correction is over yet, but generally the kind of oversold readings we’ve had over the last few days usually indicate higher prices ahead. This bottom may need another couple of weeks before we’re ready to [...]