Monday, November 27, 2006

And the bears growled, Grrrrrrrrrrrrr....

Positively negative day for the bulls... unless they're looking for a bit of a sanity check. Even though this may only be a small basing correction on the longer term up trend, it's about damn time! Let's hope it's only a short pull back and basing. Either way I expect it'll break a lot of hearts/accounts through a myriad of hard fought battles.

That being said... most of the indicators I look at ($NAHD weekly, $NAAD weekly, $NASI weekly, $NDXA200 weekly, among them) are looking rather top heavy. I'd be a very cautious bull if I was at all... and that's a moment to moment call right now. Looking at all the indicators listed above my bias would be bearish, but not right away. Usually there is a fair amount of whip saw around this time of a cycle.


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