Monday 8/9/10 wrap up

Another low volume day, in fact last time volume was this low was the last week of December.  I still believe that a sustained rally is hard to envision at this point unless participation picks up.
The Trend/Osc system gave a buy signal today so the short ES's from Thursday were covered at a 6.75 point loss and a long position established.  The Trend/Osc system has a tendency to cause position whipsaw at times, and this is the type of situation in which that can happen.  However, the Buy line on the Vindicator Buy/Sell line continues to track well above the Sell line, so maybe long is the place to be.