[pcabc]

I've just plotted a breadth chart of XLK versus breadth calculated from its, plus a few other, tech stocks:

I sold out of REW the ultrashort technology fund on friday. Otherwise the market looks consistent with a pullback to me, and long term it will be a bear market (imo).

I'm overal bearish but I was not expecting the amount that the indices have increased over the last day or two. I'm still bearish but am moving more to the undecided camp. The short ETFs I'm in have generally been loosing to date, but then there has been a bit more strength that I expected and I'm still waiting the indices to drop.