A Hundred Reasons to Sell…..
And one reason to be long, the major players discounted Obama. So the chatter will continue and we should soon see a test of the breakout at 832 to 837 on the cash S&P. You can trade this selloff or you can sit on your long positions and watch.
For us the psychology is not right for the market to be topping out for this run, there are still people trying to explain what the bottom will look like, where have they been? When the money moves out of commodities and into the rest of the market we will be more comfortable moving into cash. This is not the reflation rally for us.
The EMA ETF Fund Nav was 1094 at the close.