I borrowed today’s title from Jeff’s comment. See if today’s picture helps the bulls. 
An oversold market that never was able to gain any real traction. It is troubling that a market as oversold as this one couldn’t manage a better bounce. An early earnings release by NTAP with some poor numbers tip us into the red briefly. The GM IPO seemed to be received well so far and may set the tone tomorrow. If the bulls fail to recapture the 20 day moving average again, we maybe looking at a deeper sell off.
The Fed released guidelines today concerning a second set of stress tests aimed at checking the soundness of 19 large banks such as JPM and BAC before they increase dividends. The news initially sent the banks down afterhours but they have recovered as I type. Any weakness before the Jan 7 deadline maybe a buying opportunity considering the rally post the first stress test?
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