-oversold has become cliche'
-YTD recap of major sectors
-liquidity is nonexistent in many products
-indices are seeing a concentration of liquidity
-Bid back under bonds
-dollar hedge is still underway
-volatility looks all wrong
-contango in a bear?
-forget about a bottom; sell premium and survive
SPX Expected Move--
--last week-- 133.43 (expected move)
--next week-- 126.25 (expected move)