Watching Market Sentiment Closely on Monday

The market closed out options week with indices resting on support and with indicators revealing oversold near term conditions. We need to see bulls make a stand here. A bounce at or very near current prices is almost assured. In order for it to be tradable on the long side, we need to see bulls step back in with volume. We are watching closely to see how stocks trade on Monday as this will surely give us a more accurate representation of the underlying sentiment of smart money. Options expiration, which is now behind us for another 4 weeks, always skews this sentiment.