Buzz and Banter
General Electric (GE: NYSE) has just given its first sell signal (1/2-point scale) since February. This is not a major structural break (a la IBM, potentially, as discussed earlier) but it is significant.
Point & Figure sell signals, market wide, are outnumbering buy signals about 2-1 today. There is also a pickup in signals overall vs. previous declines. In other words, technical damage is beginning to occur, as opposed to simple pullbacks. Not (in my humble opinion) the "sweet spot" for shorts just yet as the indicators I follow have yet to show serious deterioration, but we are getting closer.
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