Wall Street Edges Higher At The Open, Still Down For The Week

Stocks opened higher on Wall Street as risk assets try to bounce from deeply oversold levels. Oil prices are up over 7% as oil tries to bounce from the lowest level in over 12 years! Even with the steep rally today, oil is still trading in the high $20's. Meanwhile, the flight to safety trade (Yen, Bonds and Gold) is pulling back from deeply overbought levels. This is completely normal because markets rarely go straight up or straight down.