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So we have had a little pullback the past few days. It is being reported that: Europe is in recession. Earnings are going to be flat year over year, coming down markedly over past months. Total debt will hit $22 trillion real soon. China’s economy is heading south quickly. What happens? We get a nice…

-We really thought we would be getting a few more days of pullback/corrective work…but then late Friday:- -“U.S. central bankers are currently debating whether it should confine its controversial tool of bond buying to purely emergency situations or if it should turn to that tool more regularly, San Francisco Federal Reserve Bank President Mary Daly…

-We changed our stance yesterday morning. We believe at the very least, a near term high was put in.  We say this because:- -That was one heck of a counter-trend rally. Markets do pull back.- -We started to see some breakouts fail.- -We started to see oils, financials, biotech and other areas roll over. This…

We are watching Europe closely. Numbers coming out are not very good…and that is being nice. Recession probability going up. The problem is they have no ammo as they still have negative rates and have not stopped the printing presses yet. We may have hit a wall in here. We saw some momentum indicators stall…