The Market Has Topped
At the very least, recognize that most bases in the market have broken down.
Major Support Levels Have Been Breached
Yesterday’s volume leaves no doubt that institutions were running for the door.
Financials Could Be In Some Trouble Here
Readers of this report know how much emphasis I put on the brokers group as a proxy for the market.
Take Your Time and Pick Your Spots
It remains crazy to go overly bearish, as my friends who are nothing but short are almost closing shop.
Watch the Leading Names
It is never thrilling to see big stocks like Google and Apple going by the wayside.
Bulls are in Full Control
Until major indices break support and/or moving averages, the market gets the benefit of the doubt.
Don’t Jump the Gun
Until the major indices break support, the market gets the benefit of the doubt…
Looking to the Nasdaq for Continued Leadership
As I have stated on several occasions, until major indices break support or moving averages, the market remains with the benefit of the doubt.
Housing Could Still Be in Trouble
By itself, an index breaking support is no big deal but when you see a few things happen at the same time…
The Fight Is on Between Buyers and Sellers
Normally, when we start to see this type of action, it is a sign of a pending change in the market’s direction.
The Market Gets the Benefit of the Doubt
It is a positive that the Dow and S&P continue to trade above moving averages…and have shown literally no ability to correct.
Bullish Sentiment Joins the List of Worrying Signs
Shorter-term, I believe the market does have some issues…