Ignore the Shrill Top Calls

There is no shortage of commentators calling for the demise of this market, but here it is hitting intraday highs following a poor Philly Fed number. I will repeat what I've written so often lately: Don't turn bearish until there is price action to support that position. It is a mistake to keep trying to anticipate a top.

Breadth is very strong at better than 3 to 1 positive and there's good action in chips, homebuilders, retail and a number of other groups. There isn't any standout momentum, but Apple (AAPL) is back in the green and buyers are obviously anxious about missing more upside....127 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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