Well, all indicators are pointing to a new near term top across the board, all of them lower than their previous highs established in late April. I have positioned in the Spring for this, for a downtrend heading out from the highs established in March 2010. I can't pin a story on it, but me thinks we will stumble along here producing lower highs, and new lower lows moving towards the fall season. There was heavy selling into March and April on many of the bigger fish, and so that means we go down, down, down from there. A good six months of accumulation, and we are into November/December for a hint of looking for a bottom. There are still too many stocks out there that are "holding on" to their rallies, and I suspect as they falter, we should see more and more bear market rallies, and buy the dips, and sell the rips becomes fashionable once again. For the longer term person, its still a view from the sidelines, enjoying Fifa Wold Cup Action while waiting for the market to correct.
Good Luck and Good Trading...D
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