Waiting For Break?

Bears hoping the weekend drumbeat of bad news, re-hashed Friday's dive, and general oil freaking would provide a sharply lower overnight beginning of today's trade. Waiting for a move is always dangerous but the bears have had enough of markets that ignore the supposedly horrific state of economic affairs and so accordingly they believe we should be much lower. Well, waiting for the obvious can be expensive but we are at a level where it is put up (down in this case), or cover.