We will have the long version over the weekend…but let’s just say Thursday was a yonking…simple as that.
You already know what we have been saying for months…the divergences, the lack of new highs and all that crap. Things just worsened. But before everyone gets all out of sorts, not much has changed. Just that the large caps are starting to teeter. Teeter but not broken.
Shorter-term sentiment has turned decidedly bearish which means a bounce could be in order…especially into end of quarter. But short term is the trees. The forest is another story. We will go over the forest over the weekend.