Close

Breadth was just abysmal today. I am short with some more to add on small rallies. Be back with more later.

Going into the close

Getting into the usual pump time. This should be telling today.

Afternoon post

I am starting a small short again. Will see more as we go into the afternoon. Dollar stronger today, and crude oil getting smacked.

Breadth

We all know this market only goes up... but breadth has clearly deteriorated on these recent highs.

Morning Comment

There was a reversal after yesterdays first hour run up, but no real follow through. I am still looking to try again however, and if we go through yesterdays lows or trade under 1090 on the SPX for a decent amount of time, I will.

Also, we are having some interesting action in the Euro this morning trading through 2 days of lows. Remember the TD Seq. sell issued a few days ago. The Dollar drives it all these days so it is worth watching.

Why I still look to short

Some divergences...

One Caveat

This could be a fake out and not a break out. If we fail on the open and the SPX and the Naz 100 start trading below old highs, I will probably try again. "Thank you sir... may I have another?"