I'm in a bit of a quandary. Looking at individual stocks, I see almost nothing but short opportunities. Looking at the big indexes, I see the possibility – – but not the certainty – – of more upside of a little over 5%.
The ES, for instance, shown below, has room to run up to as high as 1130.
I'd much prefer the market to simply resume its downturn, but my preferences usually don't matter a whole lot to the market. The word this week is earnings; those are going to drive direction, and none of us know which way things are going to go. It's discomfiting, to say the least.