- Neither the dip buyers , nor the bounce sellers had much of conviction. We seem to be settling in to summer doldrum.
- Earnings will be in focus soon as some sectors like Investment Banks announce their earnings. That will be followed by earnings pre announcement season.
- As o now most of the leaders o the rally have held up very well. The selling is concentrated in few interest rate sensitive sectors. I we do not see a 200 plus down day this week, then this will be yet another garden variety correction.
- AAPL, GS, LEH, MER, BSC, MS, are some stocks I will be watching.
- McClellan Summation Index continues to go down, so we are yet to reach a stabilisation zone which can set us up or sustainable bounce.
Later: The mystery behind the blogger sentiment poll