My Market Bias Is Shifting

The indices are holding support and drifting back up but it is slow action and breadth is solidly negative with about 1,600 gainers to nearly 5,000 decliners. The number of new 12-month highs is below 100 while new 12-month lows are around 135. These are the worst internal measurements we have seen in a while.

I don't make big loud market calls but my market bias is shifting. I'm taking a much more cautious view and am positioning for further downside. I don't expect it to come easily but the combination of weakening internals, seasonality, the struggling FAANG names and the lack of leadership is pushing me to be more negative....190 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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