2/10 Ultra-Short-Term Indicators: We got climactic readings again on the CVI and Participation Index - UP. About the same level as yesterday. This has the feel of an exhaustion climax. The reading came after another rally and on three days where price was higher. It may take a day or two to blow off, but I'm expecting a decline
Conclusion: On a rally that reached new all-time highs, you wouldn't expect to see deterioration in the short-term indicators. The intermediate-term indicators are turning around, but if short-term indicators are prescient, I would expect IT indicators to resume their decline soon along with price.
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