That is ominous alright....what is interesting is that the sox has not gone to the typical extreme (bove 85%) a a local top, furthermore, the long term picture of the Sox is also improving since the percentage of stocks going above their 200 DMA has moved to a new recovery high above the January level of about 20%. I would say that indicateas that very short term we are due for a severe relapse (probably starting with a G&C today). The Sox behavior may put in uestion the targte of 184 I had for later this year. I need to see how loww the 200 DMA number gets in the sox over the next swoon down.
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