Last time, I said that we were still on a Fully Long/Fully Short 2X Sell, and had an Options Oscillator Sell. While we felt and feel that we must respect the trend, now that we are into the new year, we can expect a correction of some sort. The ITBM, which is pretty good, is flashing a Sell. I didn't think that a top was in, but the Message Board numbers at least allowed for the possible. Shortly, though, I felt that I was going to be looking at a small speculative short for the Breadth Model. We felt that we were due for a sell off and the sentiment is right, but picking tops is hard--it'll wear a trader out before he ever gets to make any real money. This morning, we have a solid Sell from the Fully Long/Fully Short. This, in combination with an Options Oscillator Sell is usually a winning combo. Also, the Message Board Sentiment again allows for at least the possibility of a top. My guess is that we rally into a top of some sort today. I'm going to resist the urge to short, however, unless I see something very compelling.
I don't see anything compelling as yet. Resisting the urge.