Tuesday Outlook: Oversold Conditions Remain

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 |  Includes: IEF, IWM, IYR, KBE, MDY, MZZ, QID, QQQ, SCC, SDS, SIJ, SPY, SRS, TLT, TWM, UDN, UUP, XLF, XLI, XLY
by: David Fry

harpoatbar
Yesterday went about as one might expect with conditions short-term oversold at the opening bell. So we had our rally based more on these conditions and a dash of hope more than any positive news.

Really, we should rally a little here as end-of-month dividends get reinvested. They still have those right? Then there’s some typical upside action around July 4th possibly.

Volume was about average but breadth sucked royally. [Note: Something weird happens to Yahoo Finance just after 4:30--their ability to calculate columns is destroyed.]

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