The markets in general finally look primed for a rebound. Technically, the macd is about to make a bullish crossover and st downside has been tested and so far support has held. At right below the 200MA, if the markets do make their move there should be a good upside trade to the 50MA.
One note... the Euro is perilously close to breaking down again. Support in the 1.21 area is important. If it does hold and we get temporary upside relief we could see 1.25 where selling of the Euro will start to take affect. If news on the Europe calms down without any downgrades or more panic news, markets should move. Not too often do I buy on Friday but if we get a good move through the 200MA's for the Dow and S&P it could be a very bullish signal for next week.
We will see.
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