Hi Buy1Sell2 I'll assume you're a bear. Lots of them lurking the Street these days. Everyone's trying to call the top? That's makes for a nice bull market thx.
I am a bear right now, but at other times I am a bull. I am currently averaging in to a short position.
In my opinion SPX just hit the top of the rally started last October. From here I see a general down trend for the next two months, at least. But for me it doesn't really matter because I only care about shorter term up / down trends, and I use stop losses and money management.
hmmm.... % of stocks above their 50 Day Moving Average... month ago = 70.4% today = 58.8% (yesterday = 55.3%) If this is such a great bull market, at least the overall participation doesn't confirm it. Doesn't this signal a weakening trend?