"
very very dangerous market. If you are long stocks.
Reminds me 2007, especially if you check charts of GS&JPM"
I dont see it as bearish sitting at/near new highs. We are getting a mild erosion in the internals and many things have bear divergences forming on a turn down, the sell window for ST players is now potentially opening in this early/mid December time frame. Big declines dont normally start off of highs, some pullback and more deterioration has to take place, Mc Osc still above 0. Underinvested pre election, performance chasing, and seasonal is clearly on the bull side so far. NAZ your one so far, with an unwind in big tech post election still going on. Rut leading down would be another good item. I would trade both sides for now until further evidence surfaces.
Edited by tommyt, 01 December 2016 - 10:52 AM.