Briefly, a mild pullback seems in order, but high beta NAZ issues are holding strong, but I do see multiple bearish divergences, at some point should come into play.
High volume selloff was not followed though Friday. Options expiration is Fri and MAX PAIN has Q's at $42 Area just above current price has been resistance, if broken price could run.
Commodities after brief pullback could be good place to be. Same for OIL.
LArge caps still outperforming, some newsletters calling for rally into 2007, top making data near non existant. Opinions dont matter, market action does.
Sometimes you need to be watching when good stuff gets battered AKA EBAY at $22 or YHOO at $23. HOT stock HANS been gored. Dem's in charge has some selling in big pharma.
I think a top of mega years in duration appears early 2007, but year after mid term elections decisively bullish, if still so, maybe the market holds together even longer than now expected. One thing is will consumers with Bush spanking and Dem's in charge have a giddy rise in Consumer Sentiment?
D
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