No bulls wanted to step in on one of the lightest volume days and risk Holiday surprises. Last year we had Dubai , and this morning’s poor German bond auction reignited that fear. We are again very oversold but as we have seen in August and 2008 they can become more oversold and Europe continues to pop up as no real solution is agreed upon. It’s amazing what a couple of weeks can do to the S&P 1300-1350 year end target expectations. I am not sure what it will be, but the bulls need a catalyst.
