Relief rally, not impressive close (6/9/2011)

Market rallied today however still lots of selling near the close. Volume is still low. Not so impressive.

Mark this as first attempt rally. In 4-7 days, looking for a confirm rally to mark market as in rally mode (IBD methodology). If we got the confirmation, then start to buy stocks.

AAPL is not up today. Actually, growth stocks are not up much. But defensive stocks are up big today. So even people get back in, they like to be more defensive, less risk.

US$ is up all day long. I think this is more like the bottom and have more upside. If so, we need to put the question mark on commodities.

Oil is up on OPEC, food price is up on AG report. Those two up are not good for economy. This also add question mark on today's rally.

The rally only tell us that we probably won't go short any more at this level. But still far away to be fully committed.