While i agree with your general consensus on pullback or retrace. The XJO is heavily wighted by the majors and that is where the more noticeable pull backs will be. I have always found when these occurs, under the radar smaller good quality can gain momentum while the majors have a rest.
Sure be cautious but also look for the little breakout babies:))
Still believ the market will rally 60 days and would be suprised to see it pull up inside 45 days.
