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[arbman]

The money is coming into the markets, the internal momentum appears to be turned, but if you compare the cummulative A/D in March to this one, you can see that the sustained fast move up only happened because the cummulative was already over the Feb level and leading. I think most of the move is done for this 10 wk cycle, but I see no reason for a major break down from here into the next 10 wk low, at least not yet...

I think the pull backs will be bought here, but I do want to see further pull back for VST here, we have the post expiration adjustment coming up, we also have the EOQ mark up coming up thereafter...

Money flow is concentrated into the large caps since the cummulative breadth is divergent...

BTW, semis (SMH) are at the down trendline, let's see whether it will break above it here, in any case they seem to be leading here...

- kisa