ajtj99's Market Pulse

[Justa Werkenstiff]

Market: The CSCO-Abby pump rally did nothing but prolong the bottoming process and will cause more pain to the longs.

Last night, I got close to a sell signal on the Sox. But the Naz was not even close. This is a bizarre market event. Why? They usually go hand in hand together. Now if the Sox takes out all of the gains of the past few days in one day, I think one can argue the the sox was a ruse...a multi day bearish flag.

The short term sentiment measures were recharged yesterday and gave higher complacency readings and will set the stage for more of a decline which will take longer to resolve.