Let's take a close look at the latest charts and data.
Small-caps and mid-caps are still picking first downs on every play, storming back from a badly oversold condition that has just about normalized.
These favorites of experts are best-of-breed in the energy space.
We got an oversold bounce, but most of the data still leave a lot to be desired.
Psychology data was unmoved by Monday's selloff.
I'm becoming more confident that small-caps have bottomed heading into earnings.
IBM beat expectations and the complexion the overnight mood changed. But will the mood change hold?
In many respects, the Monday's action was a rerun of the standard COVID trade.
Just as fears of Fed tightening and a trade war created buying opportunities in tech and elsewhere in late 2018, arguably overblown fears about the Delta variant's economic impact are creating opportunities now.
We have yet to see evidence of the culmination of recent corrective action.