Quote: (03-08-2013 02:54 PM)BIGINJAPAN Wrote:
Very interesting observation from arguably the greatest trader in the last 50 years.
Interesting points there. The divergences are definitely concerning but without confirmation it is not inherently bearish. There is still strong rotation across the leading stocks/sectors (GOOG, CRM, NFLX, GS, LNKD, AMZN, CELG, FAS etc) which tells me there is still some room for the market to grind higher.
I will however start to scale out of my intermediate term long positions when SPX moves above 1560 as I believe the risk/reward will no longer be favourable above that point.