Market Is Tame As a Puppy...

Yes, even though everyone thinks the market is like a raging bear, it is more like a tame puppy to me because it is so predictable.

 

Can the US market be any more predictable than it is now?

First I predicted the plunge and then yesterday, just like a tame puppy, it closed positive strongly like I said it would in yesterday's report.

So, how about today? Is the bulls going to continue?

Well, I really don't think so.

From the cautiousness in the total equities put call ratio, I just don't see enough conviction in the market to say that this is a turning point

back upwards. In fact, going from past behavior, the market usually do that tug of war thing around this area before a new direction can be

decided upon. A tug of war of one big up day followed by another big down day and then up day etc in a largely sideways volatile pattern.

Yes, a plunge of such magnitude just isn't going to go away easy.

Lets be patient.

For now, the market remains in short term bear trend within an intermediate neutral trend within the framework of a primary bull trend.