kaltbaum premarket

S&P futures flat…NDX futures down a wee bit.

 

I want to clarify a couple of things.

 

Fact…5 distribution days on nyse and s&p. 3 on the nasdaq.

 

Distribution days do not have to kill markets but they are the sign that a market is tired and a market that can potentially get in trouble. But as of now, only seeing some pulling in. I am not necessarily bearish…just that when I do my scans, not finding bases…but finding stuff pulling in. So we wait. We will watch how an EBAY trades around its 50 day…as well as others. But more importantly, earnings come out on droves soon…so patience time. That’s all. If major indices get more distribution combined with a break of the 50 day/10 week, then we talk.