The market is remains oversold but not at levels that instantly inspire large moves higher. The lack of fear I’ve been mentioning since late last week continues in spite of the fact that the Secretary of the Treasury said the markets should be afraid of a government shutdown (one of the less educated comments made by any senior official this year).
In the perfect world this slow drip pullback will end with a large 1-2 day fear induced sell-off which would heighten the possibilities of a large move higher. In the meantime, the lack of volatility continues and a move will likely occur on a news event.
Today’s Potential Opportunities on Further Pullbacks: