The Show Goes On

What's the long face, what's all the crying for
Didn't you expect it, when you opened your door
--Bruce Hornsby & The Range

Some commentators are beginning to worry that the market's technical picture is rapidly turning dark. Could be, although perusing charts of major indexes doesn't suggest too much concern yet.

Bulls will offer that this is simple backing and filling. After all, markets don't head up or down in a straight line.

Bears counter that prices are failing at major moving averages. Moreover, formerly bullish head-and-shoulders patterns evident on many charts are now being dis-confirmed.

I myself am not doing anything new at this juncture. Just watchin' the show.

no positions