The Daily Dose of Trading Comments

I've talked quite a bit of late about the idea of a sharp and sudden reversal that makes the bulls wonder why they are bullish. Here's a chart that visualizes what I'm thinking. Earlier this year we had the same sort of advance take place and although it wasn't as straight up as this move (which means we have more danger now), it was of the same character. Look at the pullback that occurred.

You have to expect that this is what is coming and you can't wait until it starts to prepare. Futures flat early; day before Thanksgiving with a short day of trading afterwards then the weekend. Not a time to think they take them down. More likely they run them further but that steep two to three day drop can come at any time now so beware.