The rise will likely arrive in fits and starts, especially after the market tacked on so many points so quickly.
It will not be an easy ride, but it should take us higher, perhaps toward month's end.
If the market goes down tomorrow, I would still look for a lift as we head into the holiday weekend.
When the equity put/call ratio sinks into the 40s, it often means a pullback -- although that would make the stock charts look better, not worse.
Now, if the S&P 500 can get over 1855, we could see a round of short covering that takes us up to the 1870-1875 area.
This downward grind will not get us anything more than another lousy oversold bounce.
Not yet, anyway.
I tend to be a fan of bottom-fishing. But what if LinkedIn's chart is the template for the momentum names?
In this unimpressive market, I continue to urge selectivity over chasing.