Not much of a day

As I type today's post I am sitting in the park on a beautiful, sunny day. There is a little breeze and it's 80 degrees out. Wonderful! But the glare is making it hard to see my screen.

Not a lot really happened today until the end of the day. It was a pretty good sized sell off going into the close. CROX came out with earnings and while it gapped up it closed well off of its highs. Maybe some of the uber bullishness is subsiding. Looking thru my watch list today I realized that I have a lot of work to do. Here are a couple promising charts going into next week. I'm pretty much looking for a close above today's high for entries.

We'll have to see how the market acts to this support here but I might be waning on my bullishness. When I turned on the TV to give my son his daily dose of Cars, there was a commentator on Good Morning America saying "Yesterday's pull back isn't a lot to worry about and the market should continue on it's way just like it has the last couple times this year. The important thing to remember is that we're still up 20% from last year." It just felt like the mentality of the late 90's, a nice sign of bearish things to come. In truth, I can reasonably see the Dow pulling back to the mid 12k's for the long term bullish trend. That could be a nice bear market on the way down there. (I also can't help but think that this looks like a pretty clear end to wave five, referring to the S&P chart I posted yesterday.)

I'm heading to Chicago this weekend so the next post will be from there. Have a good weekend.