Down, Up, Down, Up

The summer roller coaster ride continues. Up one day, down the next, and over again. A truly wonderful environment if you like to day trade on both sides of the fence, but for everyone else, get out the Pepto-Bismol.

Bounces in both the financial and energy sectors allowed the bulls to save face as oil prices continue to make the climb to $80 and credit worries linger. It was a positive sign that the bulls managed to close them into positive territory even though market breath was quite poor overall. We'll definitely need to see some improvement in this area in order to trust any rally over the next couple of days.

The reaction to tonight's reports from AAPL and BIDU will be worth watching along with a number of reports on the economy in the morning. See you then.