Internals suggest short term rebound likely...

• Stock market internals are suggesting at least a short term rebound is upon us.

• This bounce could last anywhere from a few days to a couple of weeks, who knows.

• Once the buying stops the downtrend should resume in full force, so be careful playing the long side of the market.

• As of right now our portfolio remains in cash. Check it out by clicking the "model portfolio" link located on the right hand side of the page.

S&P 500 Index - 60 minute chart