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Now we await dip buyers and wonder how low the McClellan Oscillator can go before we reverse sharply. End of month tape painters are missing so far. This just won’t do! Bullish portfolio managers, and certainly the always bullish financial media, must find a negative month unacceptable.

Evidently a dollar rally is not a welcome event for bulls. The bottom line is Bucky hasn’t rallied that much yet. It’s just an oversold rally as best we can tell. But, we’ll see how it goes.

There’s not much excitement in after hours trading unless you’re a bear on First Solar (NASDAQ:FSLR).



Tomorrow GDP and Jobless Claims are upon us. And, guess what? Turbo Tim will be speaking and trying to spin things as best he can.

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, VTI, RSP, TZA, XLY, FAZ, SRS, UDN, GLD, DBC, USL, XLE, EFA, EEM, IEV, 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
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Source: Thursday Outlook: Commodities, Global Markets