Will August Bring the Revenge of the Bears?

It's Turnaround Tuesday in the City of Critters, which might explain the crimson hue in the mainstay averages as we edged out of the opening gate. 

'Tis early, of course, and the price action of the tape has been nothing short of snazzy. As discussed in this space by Jeff Saut, Jeff Cooper, myself and others, the next month or so should tell the tale in terms of "the other side of policy," if in fact that is 2013 business.