WEDNESDAY

Yesterday the market experienced a decent bounce after two days of poor action. Deere announced lower revenue and profit, but, of course, the numbers beat estimates. That's just the sort of thing that has been happening lately. Volume was not surprisingly light, and while gains did not make up for the ground that had been lost, the dip buyers showed that they are still around.

To speak up on the Bulls side, the S&P 500 has thus far held above 975. The dip buyers are still around and wanting to participate. So far the best that the Bears have been able to pull off have been a couple of down days in a row. And the analysts continue to move the market higher with upgrades of some general favorites.

So until the wind switches direction, it makes sense to look for opportunities -- good set-ups -- and try to take advantage of those opportunities. But until we develop greater confidence, our moves are small and we take some profits along the way.