1 FEB 2011, Tuesday (AM)

• Well...market is looking sideways.  Out of sideways comes up or down...which way no one knows.  
• Bernanke has still got his foot on the POMO gas pedal which makes me hesitant to guess...witness its effect since August.  Many indicators on the daily and weekly have been overbought for awhile...all that fuel is keeping them aloft.  
• Could this be just a trip down to the 50MA and then back up or down toward the November congestion area?  Dunno.
• Will wait for the market to tip it's hand.