I think this is true. I sense this is happening. Time will confirm it. FormikaTrader - You did call it on the button today. Kudos.
Thurs: Indeed today is tricky as well the 10 stocks I am following are all slightly in the red... transports moving out eye on warmer weather. There is a concerted effort to move away from small cap here. This is scary. The instinct move would be to rotate into the semis but I'm just not sold on that- not from what the cell phone players are going to turn in... In general today the indices have had 5 intraday brief pullbacks, each higher than the previous ones in a stairstep up channel pattern on the SPX ,rising wedge on the NDX... NDX dispalys broadening top or megaphone foramtion over the last 4 sessions... And if I wasn't such a darn optimist... I'd say we lose the market after 3:00pm....