Once again the market ran into considerable selling pressure at the November highs. Friday saw relentless selling which brought the indices back to the bottom of the November range. Once again I’m not seeing much of anything that I’d like to trade. I don’t see that there’s much to do but wait for the range to be broken. I’d still like to see a deeper sell-off in order to find some good long entry points. If we keep selling off this week I’ll be looking for a bounce at the 50 day moving averages on the major indices.
