This is one precarious Market! The Indices are higher, but the Market internals continued to decline. I have to respect the trend, but I don’t like it, and I am very cautious of the long side. Talk is that the higher weighted stocks are carrying price higher. I counter that with the fact that the majority of stocks are beginning to trade lower and even though they are not weighted, their total weight will eventually outweigh the higher weighted stocks and when that happens, the buyers of the higher weighted stocks will begin to sell, and then the flood gates will open. Things can change, as I have said many times, but until they do, there is certain risk to the downside.
