Today was a disappointing day for the bulls. GOOG, CME, ORCT and HANS continued to weaken. The short term interest rate indicator went to a new high today and bond indicators declined, portending higher long term interest rates. 
While the GMI remains at +6, there are some signs of weakness. Only 57% of the 4000 stocks I track are in a short term up-trend, the lowest percentage since July 8 when this QQQQ rally began. We are now in the 12th day (U-12) of the rally. Only 30% of the stocks in the Nasdaq 100 and S&P 500 indexes rose today, and only 17% of the Dow 30 stocks. I am slowly getting stopped out of my holdings. Once earnings season is over there may be nothing to support stocks. Time to consider buying puts……………………………….
Send me your feedback at: silentknight@wishingwealthblog.com.
Just re-iterating what you said yesterday…
“How many times have I noted that one must go with the market trend–not try to anticipate it.”
By the way, how’d you fair with your “bouncers” trading? Mission complete, mission aborted, or mission impossible?
Are you still bearish on the steel sector?
GGB, RESC* …. Does RESC still look “sick” to you?