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Morning Matters:

Is The Correction Over?
by Geoff Garbacz

May 28, 2010

Phil Erlanger of Erlanger Squeeze Play and now Good Morning Wall Street (www.goodmorningwallst.com) put out a great video worth watching on the state of the market and whether the correction is over? The link to the video is:

Waiting For A Trigger

In the video, Phil looks at the short ratios of several ETFs including the DIA. Shorts have been adding and the big question is when we get the next short data whether they continued to add into Wednesday's low? If so, then a major short covering rally could be underway.

Phil also looked at the U.S. Dollar and concluded that perhaps a double top could be in the cards. This would be a plus for stocks. Make sure to watch this video as Phil continues to evaluate other variables that tell us whether in fact the correction could be over.

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