Short-Term Crossroad

Interesting crossroad for the stock market. Price action says more rally coming shortly while sentiment and internals argue for a 4-8% pullback into August. I guess both could occur in theory.

With the Dow, S&P 500 and Russell 2000 hitting fresh all time highs, it will be telling to see if any more cracks appear in the market’s foundation. We’ll take a look at our regular column of Canaries in the Coal Mine shortly.

Yesterday, Ben Bernanke’s much anticipated and likely final testimony to the House was a dud so all that is left is earnings…

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