Will the CS bailout halt the XJO correction?If the volcano of...

Will the CS bailout halt the XJO correction?

If the volcano of banking contagion continues to erupt, then this isn't the bottom. If this is the bottom, then there will probably initially be a gentle upswing rather than a big bounce, as players remain wary of further contagion.

Oil seems to have been affected particularly badly by the uncertainty in financial markets. So, oil may be a good indicator of when the big players think that the risk of contagion is receding. WTI is off its low but is holding steady rather than rising. Might have to wait until the European and USA markets open before confidence builds and the price of oil rises. I am looking at oil as an indicator of where markets will go next. If oil rises then I expect that markets will follow.