Monday Morning Musings

The market is opening under a bit of selling pressure this morning. After last week's rally, the markets are now fairly overbought. So some consolidation this week would not be a bad thing. But I would prefer to see mostly sideways action as opposed to more distribution days.

Oil ir rising again today, nearing the psychological $60 level. This is helping the energy complex, but likely weighing on the broader market.

Bond yields are moving lower, with the 10-year yield down 3 basis points to 4.80%.

And semis are getting a boost after the positive comments and guidance from KLAC.

I'll be back in a bit with the news roundup.