5/8/13 Market Check (1,617.00 ---1,629.50)

1. Warning sign?





2. According to the Investors Intelligence Advisors Sentiment report just published, 52.1% of pundits were bullish this week, versus just 19.8% bearish. That’s a spread of 32.2%. Traditionally, readings above 30% have often heralded highs in the market (?)

3. NYMOT reads 187 today.

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4. I will still trade what I see. I will not jump the gun.