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<< Return to page 1 - Oversold Bounce Time?

The Shadow? Well, this just shows how old I am. It just occurred to me as many are still coming to grips with malfeasance and insider deals on Wall Street and with the government. So then, “what evil does lurk in the hearts of men”? It’s in the news every day it seems.

The McClellan Oscillator argues for a bounce-back rally now. It could come tomorrow or the next day. The worst I’ve seen the reading is -100 so we’re just about there.

Tonight Visa (NYSE:V) reported and the stock, which was down 5% early, came back in after hours trading to trade higher. I guess all that interest on unpaid balances is kicking-in rather than new charges. Below is the current summary courtesy of MarketWatch:

click to enlarge

Tomorrow we get Durable Goods orders and New Home sales plus more bond auctions.

Let’s see what happens and you can follow our pithy comments on twitter.

Disclaimer: Among other issues the ETF Digest maintains positions in: SPY, RSP, VTI, TZA, XLY, UDN, GLD, DBC, USL, XLE, BDD, EFA, EEM, EWC and FXI.

The charts and comments are only the author’s view of market activity and aren’t recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations aren’t predictive of any future market action rather they only demonstrate the author’s opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at