We also have a couple of breadth indicators at interesting levels; Stockbee's amount of stocks up 50% or more in a month is now above 20. When we have more than 20 stocks up 50% or more for the month, the market tends to slow down a little bit. I certainly don't want to get overly aggressive on the long side in the short term especially in the sectors have fared best in the last few days (commodities).
My opinion and outlook are subject to change as new information comes in.
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