A "Bad Reviews is Good Reviews" Kind of Market

After an eventful couple of weeks, the major averages look a bit sleepy into the New York lunch hour.

Rather than leaders leading to the upside, per se, the market looks to be hell-bent on squeezing shorts who got out of line in beaten-down plays, such as the bounces we are seeing in GPRO LL TWTR, for example. 

If that continues, lowly YELP over $24.75 may finally be ripe for some type of long scalp. But, again, we are talking about quick flips in this tape, as you can be sure plenty of buried longs from higher prices will likely use rallies to unload their underwater inventory. 

As for the market at-large and where we go from here, we have been staying patient and light for a while now, letting asset classes set up for a potentially meatier pitch down the middle of the plate soon.

I will flesh out that statement for Members in my usual Midday Video.