Climb is Over?

Whew, If you spent anytime today watching the market, after 10am you were probably getting your email ready to send to me laughing for going long yesterday afternoon. Good thing you didn't hit that send button before 1550 :). Yes technically the index was up today 41 points. Here is the problem, it was a select market up. Under our paradigm we did very well. The down market allowed us to exit many of our short positions, and the recovery in the afternoon allowed the limited number of recent longs to exit in a one day purchase.

Where does it go from here? If I said up I would have a 50 / 50 chance. The overriding guidance from our indicators suggest - I am sorry to say - Continued down...

Unlike yesterday, I am unwilling to commit to a direction tomorrow. Here is my suggestion. Watch the Asian and European markets. Ahhhh hate to tell ya. We don't lead them, we follow them, you just have to know how to read them. Oh BTW that is why at 1500 today we were thinking, yep we were right it is going to be up.