As I have said earlier today, I still have not gotten a clear sell signal here, so I am simply following the dictum laid out by the action in the last four weeks, they indicate at least a mild retrench, if the sox takes 400 with high volume, for instance, or if we take 10400 on the dow, and particularly not take out 10190 next week, and the EPC continues to behave, I may avoid getting in that bear suit. Right now, I expect after a possible early up Monday to see a typical G&C, and if that expectation is what evolves, I think that we get that retrench starting here. I am going to be very careful not to give back last month gains.... And up trend day Monday, would increase the probability that the bear suit should not yet be on.
On the negative side, failure to take out the 7/21 high at 1933, is bothersome, I thought this run by now would take us at least to 1940, for a fake "take out" before we turn.
