Today probably didn’t seem unordinary by any means on the surface, but when you consider the volume that we saw, and the number of times the bulls tried to reverse the course the market was on, only to fail repeatedly, you have what I believe a potential early warning sign that the trend we are currently on, may be coming to an end.
Another interesting tidbit worth mentioning is the fact that I tried to find shares of SPY to short from my broker, and there was none to be found/borrowed, which very rarely happens, and could be a clue as to the intentions of the bears to drive this market lower.
Here’s the Nasdaq and S&P charts…
