Bearishness is as thick as the bullishness was in January.
hmm. we must be reading different things.
there are catalysts for a rally in july: everyone is bearish on the handover at the end of the month (contrarian); fed will likely raise rates for the first time; opec will probably increase output (officially, anyway, since - as i've read - actual production already outpaces the proposed limits already).
We'll know, as Jim says, "in the fullness of time", watch the sentiment indicators, if they get too lopsided too fast, watch below, if new lows keep in the 80/120 issues despite a run, look out below and few others like that....
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