Sorry the blog has been off line the past two days, the host company was making some changes and their seamless transition proved not so seamless.

It has been quite a two days. Yesterday's downside action was strong and broad, the fact that North American indices rallied off key support today may prove constructive. Since Christmas we have been expecting a re-test of the November lows. We may have got that yesterday. Still too soon to tell what longevity this bounce may have. We will have a better idea by the weekly and then monthly close at the end of January. This month has already been one for the history books. The next two weeks will be significant either way.   more »