No Conviction from the Bulls

A decent oversold bounce finally kicked in today, but volume was light and the sell off in the final hour of trading continued.  I think I read today marks the 10^th consecutive day where we sold off late in the day this month.  That shows a lack of conviction on the part of the bulls.  Breadth was solid with about four gainers for each loser.  Overall, sentiment had gotten negative and a bounce was overdue.  It may continue for a few more points, but option expiration can be volatile and bears are probably eagerly waiting to reload.