WE were supposed to get to 1887, we got only to 1896, and I am not sure we are finished with the decline. If you look at the various BP, many of them declined today, despite the very strong action of the indices. The BPNDX climbed a little from 37 to 38, but the Naz, OEX, SPX actually all declined a little. RSI jumped much too fast to overbought (VTO forced to close their position), and most importantly, the P/C call ratio in the last few days was far from registering extremes one would like to see at a bottom. So, I am not sure if the 3/24 date was indeed the bottom or another "swoon down to under 1900 is still in the card. We'll see soon enough. Another worisome piece of data, the naz trin getting to an extreme low, to far too fast. Yet, watch for that 1883, I think it should hold, but if taken out with gusto, I'll have to turn to neutral (I hate having to straddle, bu the lack of good bottom, like last March, forces me to take that stance, trather than a full bullish stance, for now).
