I think the markets need to probe deeper before we launch a full recovery. However, short term we seem to be a bit oversold and Mike Reed the Tradestalker seems to agree. The open Sunday night dropped but failed to take out the low of Friday afternoon and quickly reversed.
As I write we are at 1460. I see a possible long bounce from here to 1480. Beyond that...........?
Unless something unforseen takes place between now and the open, I will be long to 1480.
Futures & Options Broker