Jerry, not one person looking at those internals would have been shorting heavily. They have been bullish as they have ever been. And any bear following them would have saved him/herself a ton of cash. Now, they are beginning to to show cracks. The $BPNDX, the McClellan Oscillator, even the Summation index. Again, if one were a long, I think it would be wise to look at this and take heed.
This is not top-guessing. This is not bull/bear market debating. It's simply trying to discern what the market is saying. And right now, its a little weaker than many suspect.
Unfortunately, I don't have access to the $BPBIOM (? - spelling), but I suspect it took a bit of a hit yesterday. Maybe not, but my own indicators say the $BTK just may have ended its uptrend, and will need a save very soon in order to stave that off.
Good trading, Jerry. Nice trade on SNDK and nice $40 call a month ago. But, this won't go to the sky. The next big money will likely be made down. Who knows when that will start.
GT
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