Market Monitor

• While there was lot of drama yesterday, in numbers term it was non event. Lack of major selling , set us up for a rebound.
• The bears have so many things going for them, but they have been unable to press their bets. 63 stocks down 4% plus is not how major corrections start.
• There is so much chatter about sub prime lending and derivatives but there is as of yet no major panic selling.
• The rally leaders continue to hold on to their gain and seasonal factors might kick in to squeeze bears higher.
• Such market environment is more suitable to tactical short term plays.
  
• So many technical analyst watching for neckline break, it might be just a trap and the market might rebound, negating the much watched and anticipated pattern.
• A strong rebound is the most likely outcome here.