I suggest you compare the $BP for the generals (NDX, SPX, INDU and OEX) to the broader $BP. The first group, despite the rally last week were unable to recapture their 14 DMA, a grave signal. Furthermore, late last year, the percentage bullish advisors has gone above 60%, and more importantly, did not make a new high with the market in January, confirming a top, IMTO. The 21 DMA of the EPC stayed for almost two months solidly under .6, and is now reaching under .55. The ISEE indicator has printed numerous times above the 200 level, I would have liked to see at least one reading above 270 or so, but I don't always get what I want. Mind you, so far, I still do not see a very severe bear market, but enough of a shake out to be scary.
