Markets were on a wild ride in January, especially this last week. We expected this would be the 4th negative week for the markets, but strength in the last few hours turned this week positive.
On many levels and by many measures the market is extremely oversold, but so far few buy signals have developed. February could change that as more strength – or less selling – appears.
Commodities and energy stocks have held the markets head barely above water. By big techs’ results are still surprising to the upside. A bounce in the major indexes is likely.