- Carl Futia: bullish
- White Magic: bullish
- Kevin’s Market Blog: not updated, but posted that if stock trades above 50-day for several days, market should retest highs, I take this as bullish
- Bespokeinvest: bullish, in regards to strong breadth argument
- Slopeofhope: getting gloomy as a bear, turning bullish
- Elliot Wave Lives On: starting to seriously consider the long-term bullish picture, after having expected a bear-market rally for 1 year
- Gary’s Common Sense: bullish, expecting ‘third-leg’ of this bear-market rally
- Evilspeculator: neutral/bearish
- X-trends: bearish
Clearly, the bulls are pretty numerous, but we haven’t even made new highs yet.
Now, look at the chart above. I posted here that the market’s rhythm has changed, because it’s been 18 trading days with no new high (previously, the market always made new highs with 8-10 days of bottoming). Also, you can clearly see that volume has been much lower on the rally, compared to the previous sell-off. Even if we do make new highs, I’m shorting the whole way up. But I think the odds for a drop below 1040 are high.