Bouncing off the Ceiling
The stock market failed yesterday to move into bull mode again. If past patterns hold, today would be a big upside breakout. At this moment (6:45 AM CST) it does not appear that is the case. The Dow Jones Industrials are the tail that has been wagging the dog over the past ten days. Watch it closely for clues. In terms of the S&P 500 the 1310 down to 1290 area is one in which a cascading array of sell signals will trigger if hit.