Settling Down?

Is the market going to settle down this week? The ECB has done all it can for the moment, hiding the current state of insolvency for Greece and possibly others under a shroud of short term liquidity solutions. The US economic indicators, especially unemployment, continue to offer hope to the market. Commodities may be in the dog house until China has resolved it's slowdown methods, but the tech reboot and the delveraging plays are looking like the right places to be. The longer term story is still pretty ugly but it's beginning to look like we have some space for a rally. Samsung just announced a massive spending program on chip capacity which should signal good memory prices for the next 18-24 months and a build up in semi cap back log.