Of course it concerns me, but the very short term indicators re shouting divergence, trin under 1 (and by a lot) when tick still negative is a sign of volume going into the few advancing issues, during the day, we had an extreme of 90% down volume, even on the close here, it is still a very extreme above the bullish level of 5 (it is 6 on the NYSE), I don't remember that kind of number but at bear bottoms, not just a mild 10% or so retrench from recent highs, I mentioned the positive behavior of the the EPC, and few others. Look at the number of new lows on the NYSE at 860 (the question should be, how much worse can that number be), I am expecting at least a sharp run of 6% to 8% (to 1992/2030 range) from todays lows, then, if the indicators go overboard the other way, I may remove the horns, otherwise, they stay. Most of the core issues stayed well within their respective boxes and bounced sharply, when the market had a whiff of positive winds, a pretty good sign these may very well print yet newer highs in the next three months. Note that most of the additions today were in the core (COO, and TBL both removed due to bucker plus profit, IGT, PII and SKX) and in the solid (er?) group of medium size growth health care like LSCP, BSTE, QLTI , GIVN (reentry after taking a very nice $1.82 cushion on that one) and LCAV. I think that sector and the like of QCOM and maybe even some select semis, may do well on a future bounce here.
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