Yeah, it used to be that traders watched the $rut and $tran as leaders in market direction. If that still applies we can't get out of the penthouse fast enough...
What do you think of these comments by ACE.
"However, I don't think we are much more than at the start of the DISTRIBUTION PHASE still....the MARK DOWN (DEPRECIATION) PHASE is still a ways off when I look at historical WEEKLY CHART of $INDU...In the Distribution Phase, there can still be plenty of rallies, because Da Boyz have to find moments when they can un-load stock at the highest possible prices to the SHEEPLE...which means the swing traders and day traders can still find numerous opportunities to make money on long trades so long as they don't linger too long with their trades....get in...and get out quickly on each impulse higher....play along with Da Boyz. "
The # of 52 week lows is enormous compared to a very few 52 week highs, yet the market is still melting upward. From now til the end of the year is going to be very interesting... Be nimble and hold onto that green.
Another indicator, the $SOX, is at a danger line if its support fails here.
Enjoy your weekend.
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