wednesday's road map, page-85

The tin can has been kicked down the road long enough in my opinion. Plenty of bearish signs out there. Here's just a few:

1. XSO has a distinct head and shoulders pattern.
2. Weekly stochastics for pretty much every market you can think of are in a precariously bearish position. Monthly stochastics for some foreign markets (eg. DJIA) are as overbought as they've ever been.
3. It looks like the DJIA has just completed wave 5 of a three year long pattern.

I've put my money where my mouth is and moved to a fairly high cash position relative to the stocks in my portfolio. Just short term trading for me for the next few months.

A table that may interest some...