Watch Oil

I don't think we'll see much of a selloff for oil ahead of the weekend, so that means we likely won't be able to rally strong until next weeek.  So even though I am a bit long, I don't think it pays to get aggressively long here unless we have some panic selling.  But next week should see a relatively strong bounce.

Today is day 3 of the selloff, usually this is when you get the give up and the dumb money throws in the towel.  I don't know about intraday reversals, but the spring is getting coiled.