There are no new trade signals (yet) today. Should the market turn down over the next few hours, or days, we should start getting new Sell Signals. The Daily Update which will come out after the close will briefly discuss the "dead cat bounce" and why we are holding through a difficult to stomach dead cat bounce. The resolution is always the same, a break down to new lows. The only exception to that resolution is would be if we are not in the midst a dead cat bounce, but instead are at the beginnings of a new bull market. With market sentiment still at such extreme overbought levels, what are the chances of this not being a dead cat bounce? Because no one ever knows what the market will do next, we need to keep that chance somewhere above zero, but not by very much. More later in the Daily Update. SPX - 180 Minute
