Only Bears Can Make Rallies Happen

Sunday nights are frequently as turgid as Friday mornings are frenetic.  Index futures have opened a couple of points higher this evening, but I doubt whether shorts can be goaded and provoked into doing what they do best — i.e., panic. That could change as the week wears on, of course, particularly if the right headline turns up:  ‘Jihadis Lay down Their Arms and Vow to Live in Peace’.  Whatever happens, though, short-sovering remains the sole source of serious buying power, and unless the bears are nervous about something, stocks will tend to go nowhere.