Well, the short term down-trend continues, reaching its 7th day on Wednesday. IBD reversed again on the market trend, even though Wednesday’s decline occurred on lower volume and was therefore not a true distribution day. AAPL actually held up well before reversing down with the market. I remain mostly in cash with a few long positions protected by put options. The longer term trend remains up.
Wednesday’s lows in the major averages closed below the Tuesday follow-thru day thus negating the FTD. The markets are very choppy right now, no trend in sight.