We have a truly reprehensible, depressing market. Nothing good comes of a Chinese stock market rally. We create a ton of jobs with no wage growth. Gasoline goes lower still.
And the market goes down anyway. There are no leadership groups. Stocks that roared just the other day, like select retailers, just give up the ghost.
The Internet companies that came out hard-charging rolled over.
The consumer packaged goods and staples that were good yesterday are not so hot today.
And no one wants to go into a weekend where we just fret that anything can happen: Mideast, China, Europe, you name it.
We have to get more oversold before we can get to where the market doesn't just drift down.
It isn't there yet.