Prudent people are scaling back, as technical weakness shows its multiple heads:
1. Trader's Narrative with little room ...
2. TraderFeed with divergences...
3. StockCharts with lagging Nasdaq AD line...
4. Bespoke with breadth.
BTW, that's not all! Potential of double top for S&P500, double bottom for dollar index, broken downtrend for VIX and others ... worth all watching!
MBA purchase applications remind us today about "demand brought forward" on macro scale, and think of global credit festivities in the last years ...
Doug Kass sums up the market ignorance.
Nothing major yet, but not a time to play the hero!
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