The Daily Dose of Trading Comments

Volume has picked up and internals are actually positive as the market finally finds some footing and threatens to get a short term rally actually underway. Oil can't make up its mind whether the release of strategic reserves matter and gas prices have already signalled that it doesn't matter how much crude you have if you can't refine it. All in all, a lot of chop but the negativity is pretty thick and that could provide the ammunition for a short term rally that takes us to the top of the channel. I'm believe that this is a short term rally within the intermediate term down trend and will trade it as such, not as an intermediate term trend change.