The Bulls battled back today and forced many of the Bears to cover their short positions in the equity markets. However, nothing has changed, nothing has been resolved, and we still have the same unresolved debt problems.

Gold and silver continue to hold well and look to be purchased on pullbacks from current levels. Crude oil popped to the upside today and remains in a broad trading range with no clear-cut direction.

All in all it's been a pretty boring session so far on a Tuesday. What I really want to see is how these markets close today, and more importantly, how they close for the week. If we have a lower close for the week in the equity markets we would consider that to be an early sign of a potential bear market.