Well here it is the pullback that everyone was talking about. It is very early and we will have to see how it plays out. S&P500 an Small Cap are currently down almost 1% but they are still safe and no bailout is being signalled. The international index is down almos 1.9% and is already dancing on the first warning level CBL. look for the red lines on the charts below, they are our first warnings. We need to close below them before I get concerned. Then we will beed price to close below the 50 day moving averages and right now, price is not even close.
Europe kicked off this pullback but time will tell us soon if this is just a flash in the pan pullback or an actual reversal of the markets. Nothing goes up forever because eventually the need to take a profit over rides.
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