You got me running out of my mind
You got me thinking that I'm wasting my time
--ELO
It appears Tom DeMark's trend exhaustion signals are flashing warning signs. TD 13s are popping up in various markets around the world, and Tom D has slapped sell signals on many world markets.
US stock markets are one count away from joining the rest. DeMark specifies an SPX close above the September highs (which I thought we had yesterday) and a blow off move into SPX 1490ish to seal the deal.
Personally, I've already sold most of my discretionary equity exposure. May consider adding to index short position should we get that 'blow off.' I continue to sprinkle some new commodity buy onto the sheets, with emphasis on gold and silver.
position in SPX, gold, silver
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The trend is your friend...unless the trend is about to end.
~Thomas DeMark
Heard him say that at two different MV seminars.
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