(Wall Street Journal--MarketBeat Blog) The last hour of activity Friday, when buyers finally emerged from their slumber, has helped erase some of the day’s massive losses. Needless to say, the market is still experiencing a so-called oversold condition, where various technical and sentiment-related indicators suggest buyers should be asserting themselves.
The market has a long way to go after the Dow Jones Industrial Average lost more points in one week than in any in its 112-year history. The brief burst of optimism aside, investors are still in a big hole when compared with only two weeks ago. The ongoing concerns around the banking system, for now, trump all considerations of value.
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