There is tremendous uncertainty about the European situation and now it is rumored that the European banks may be in trouble. While I am not expecting very much out of the G20 meeting this weekend, it was a catalyst for the bears to cover some shorts and wait it out today. We held the August low yesterday but only managed a very weak bounce on light volume today. We have the end of quarter coming up next week that may help the bulls. A tug of war, between quarter end mark up and the gravitation pull to retest the August low, is brewing. It should produce a great trading opportunity but we have to be patient and see which side makes the first move.
