the Yuppie Pig

The market seems to be slowly rolling over. Overall, this is somewhat constructive, giving the market some time to digest its gains. 820 and 780 remain my pull back targets but we'll see what happens this week.


A lot depends on the financials this week. Regardless of what happens, once that's done with, it will likely be time to buy the winners and sell the losers; however it plays out. I started small positions in FMER and OCN; both of which are holding up well. The BKX has formed into a tight pattern, so a break from this should be telling.


I'll also note that the high yield bonds still have not broken their uptrend. I suspect that for the market to top out, we will have to see a break of this uptrend.


We also got a nice break in the Ag commodities which should give some lift to the sector.