IBD logged 5 distribution days on the Nasdaq going into today and today looks to be the 6th. This was an abrupt reversal this morning and investors should be lightening up at this point. Yesterday’s strength in the Dow seems to be a partial rotation from growth into more conservative issues, thus we need to be more cautious.

 

Best returns,


Scott O’Neil

President

MarketSmith Incorporated

 Follow Scott O'Neil at Twitter.com/WScottOneil