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Good evening,
The domestic majors had a nice bounce back day, erasing the morning bears and finishing stronger. Sort of that is. The Russell 2000 small cap index actually finished in the red today. More often than not, this index is a leading indicator. It hasn't been during this recent rally but now it just might be. Another struggler today was the semi conductor sector. It finished just slightly in the green, however, a sell signal was generated by my software platform. The semi's can be a leading indicator for the Nasdaq index. The Canadian ETF index was the only international index that I track that also finished in negative territory. Another leading indicator within emerging markets is Brazil. The Brazilian index is struggling, even though it finished higher than yesterday, it is very close to generating a sell signal, with a leading indicator/price action divergence being formed. And yesterday's sell signal, the China 25 index, which is a leading indicator for the U.S. markets shed another 0.40 of one percent. Keeping a watch on the futures volatility index's, buyers have become more interested to buy than sell, a bullish sentiment changer as of today.
Good investing and stay with HPSI.

At the end of trading today I received a nice divergence sell signal for the China 25 Index, symbol FXI. I currently have no position. The rest of the world markets are in a holding pattern with most trading slightly lower today. The U.S.markets are in bullish mode with both the 50 and 200 day moving averages trending higher, and the 50 above the 200. The majors have extended above the climbing 50 day and I would assume that sometime soon the price action will retrace back down and meet the 50 day average. This always happens.  Prices and moving averages have a rubber band relationship. The price action, when extended either above or below will always "snap back" up or down to the m.a., in this case the 50 day moving average.
Good trading tomorrow and stay with HPSI...

The majors finished off another solid week, with nice job and unemployment numbers. I still see my analysis pointing towards a potential top in all domestic, Asian, Latin American, Canadian, and European major markets. Most of my weekly data points towards the same and this is just as striking. Technically, the markets remain very strong. At these near vertical levels of advancement a pullback is certainly imminent. There seems to be much complacency and just this week I am hearing boasts on the media of 2012 being the year for the investor. That very well could be, however, nothing goes up forever, some choppiness and consolidation may be on the horizon and the bottom line...there will be a much better opportunity to enter long into the market, with less risk, than at these elevated price levels.
Before you invest check the blog, you'll be happy you did...Have a great week.

It seems as if investors are undecided which way to take the major mkts. after today's action. Tomorrow will  state the unemployment number and we shall see how the participants react to that. For now I am patiently waiting. My analysis still shows that the topping signals are in place and until they are violated that is the posture to take. Patience and discipline are critical at these areas and not the time or place to guess or front run any data.