Sceptical of Bounce

Some bargain hunting lifted the major averages higher yesterday, but I see very little reason to alter my bearish reading on the market.  To be sure, as I have mentioned there are some values now available as long as one has a long-term view.  But for the short-term there are still way too many negatives to warrant any wholessale buying binge.  I don’t think there will be any appreciable postive follow through today and I suspect the market will finish on the downside for the day.  The time for aggressive buying may be closer, but not quite yet.

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