So now what? We have an Options Oscillator Sell and the market is burying some of the Momentum indicators so it is not unreasonable that we'll get a pull-back. The big question is: From where? The breadth is fine or better than fine. The "Best Trend" is positive. The SH saw short-covering, but rather than showing capitulation, it looked more like smart money taking off a hedge prior to a rally. I have to come down as cautiously Bullish. As of this morning, we have a Fully Long/Fully Short Buy (reversing the 2X Sell, which is rare). The Position Poll strongly suggests a near zero chance of a top today. We do have a "Secret Hedge Fund" Sell, but those signals are usually pretty early. I'm still a Bull, as I fear that we've got another crazy rally coming that will leave folks shaking their heads. Maybe we get an early pullback and then ramp up again?
Actual Position and Stock Market Opinion Polls for Tuesday 6/06/17
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