Every Bear Has His Day

The Ben Bernanke spoke and spooked the markets.

Today was a damaging event for the uptrend.  You should be considering exiting the longs you hold if you have not done so already.

Wait for the right time to get long, today was likely the end of the recent party.

Finally, we get a pullback.

 

Helium

A helium balloon that floats higher.

Would you place a bet that it will just stop floating higher?  Not likely.

The market is in an uptrend.  It will keep going up until there is at the very least one seriously, technically damaging distribution day, with significant selling volume.

We are not seeing that.