Mike
08-01-2013, 09:27 AM
Yesterday the market moved up and ran into sellers. This produced what is called a stall day on the NASDAQ and is treated as a day of distribution. We now have five days of distribution which is an elevated level. We had an S3 sell signal and the exposure count dropped to 3 or 75% invested. I note that futures are up this morning as this market seems to buy all weakness. In a FED pumped environment a lot of indicators and analyses don't work. Eventually they will.