Short Term Pull Back Begins...

The Dow retreated 34 points today as short term bullish momentum fades. Yes, this is the start of the retest of the 200 days moving average that I have been talking about for the past few days and is the retest that will confirm this breakout. In fact, the options Put Call Ratio also surged today, further confirming the short term bearish sentiment in the market now. Make no mistakes, the mid to long term outlook is certainly bullish and any retreat should be taken positively as strategic entry points. For now, the Dow remains in short term bull trend, intermediate term neutral trend and primary bear trend.