Buzz and Banter
Today's afternoon snapback looks like a victory for bulls on the surface, but yet again a scan of our database shows sell signals virtually swamping buy signals. (To understand how this can happen, go back and revisit this piece.)
Our long-term bullish percent indicator is still quite a bit away from a reversal, so even with the new sell signals we're seeing today we're not in danger of reversing down. But today's activity will cause more significant erosion in our intermediate term-indicator, and a reversal there would mean we're two-thirds of the way toward an all out defensive posture.
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