By now, you realize that when there is talk of the overall markets on this blog, it relates to the Bullish Percent Charts. There has been a fairly significant turn of events in those charts back to bullish in certain industries - Financials and Energy in particular. However, the major market BP charts are still mixed (S&P 500, Dow and Nasdaq Comp).
Since the turn has been from outright bearish toward the neutral end, we are going to search for buys now more so than short sales. That being said, the housing industry charts are still a problem and as a result we may initiate a short in that group this week.
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