After the futures bloodbath last night, the bulls are breathing a sigh of relief. However, it is still a weak oversold bounce that did nothing to reverse the negative technical picture. Volume was light and we closed poorly, but Applefinally managed to bounce a few points. Oil was hit hard and bounced a bit from last night’s low. The Greece election is throwing doubts into the recent bailout and they may even end up leaving the European Union. That may not be such a bad thing. While the bulls may have a bit of momentum to start tomorrow, the uncertainty will provide a headwind to any rally.
