Commodities get a big hit, market rally is done?
* Commodities got a big hit today with oils and oil stocks taking the obvious toll. With semiconductors and big cap tech already rolling over, the broken last straw on commodities seem to nail the market in the coffin.
* Secondary indicators like AAII sentiments or Investors' intelligence survey also point to a bearish picture with investment advisers overwhelmingly bullish.
* The bull market from March low of 2009 is aged.
* Fewer growth leaders are holding up with more and more former big runners breaking down.
* The accumulating rating on the big indices such as Nasdaq and NYSE is a miserable E, pointing to institution selling
To make some offensive selling to raise cash is prudent at this moment. Market may bounce/chop around due to earning announcement coming up.
Be careful out there ...
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