The DOW trannies are laying out a distributive top that double double tops the cycle and decade. I rate this as extremely bearish. It is possible for it to negate the structure but it has to negate it by advancing slowly through 5400 and then 5700. Meanwhile, what is it doing? On rallies it moves up unconvincingly to put in declining tops, in Feb, Mar, and maybe now. Given the ease of rise and the fact that the previous five days sell-off literally ripped away much of what was gained over the last 3 months, I'd say you have a situation of no conviction based on growing invisibility of earnings.
So far today the DOW has rallied up to its 50MA on putrid volume also in their presumed cover, the ETFs.
I notice all the pies, especially the Chinese ones, are flying high but their ET flows suck. Both the DOW and the pies aren't rising so much from short covering as they are from Lil Guy speculation. How do I know? I watch the direct flow(!) and monitor ET flow in real time, plus I've been doing this for ...Is it time to go short? No. The market is so weak that it can easily rise. Won't break without news.
Some guy is preaching the virtue of the banks on CNBC. ET flow doesn't agree. I held GS because flow was good but it reversed and I sold at the top. Thought it would merely correct but now it looks like a much more serious downside move is developing. Hard to believe from a visible fundamental perspective, but how much is invisible?
Markets don't usually repeat 2011 and 2012 but with taxes going up next year, election etc.............. it could be a rough 2nd half like last year..........Welcome back, ahhaha.......I missed your contributions. Hope all is well.
The atmospheric pseudo scientists believe that the climate is finely balanced. A small perturbation could launch a cascading causal series of events that brings long term change to the climate.
Then, since you aren't even willing to pick up one piece of trash the earth hots up and burns down.
They reproduce this argument as a further argument to get you out of your car. Underground everything is finely balanced. An unnecessary explosion in order to look for fossil fuel could cause the fine balance to slip.