ajtj99's Market Pulse

[madrose1]

S&P500: Technical Alert
Weakness in the index is being attributed to rumors of Homeland Security issuing a specific threat. It is worth noting that the index has been showing possible divergence for some time with an increasingly small number of stocks holding the index up, hiding weakness beneath. The advancing to declining ratio this morning has hit 1:9. This is an extreme reading which sometimes leads to snap-backs. That would be far more probable if we were not so close to a top.