ya c, the big cap leadership was sorely lacking from the first of the year, csco and ge didn't do much of anything, msft was so oversold it had to bounce =g=
thats why i pay attention to the oex here and not the breadth that has got even arch crawford super bullish -gg-
this sharp reversal off of good news rate drop, even though it was highly expected is rather bearish in my book still a lot of supply out there, the fed couldn't stop the bubble on three steps and no stumble, but the bullz think that the fed can stop the drop on A drop =g=, everything is bullish rate hikes are bullish, rate drops are bullish.
i tend to agree with that other poster, there will need to be some more despair out there, a time when people start extending the downtrend into oblivion, like they were extending the uptrend into oblivion at the top -g-, there was some of that in december, but i still never got my front page 120 pt headline in the times -g-.
and talk about contrary indicators, i was sticking it to the baaaaaaa--aad boys on the SHFZ -g- right at the left peak of the double evening star naz reversal -g-
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