Retail Bears Battle Real Money

 With each passing day, we continue to read how the markets have gone high enough and how they are sure to pull back. Most of these opinions are coming from retail traders with some charting abilities and writing skills, who, if we were to combine all their money, would still not add up to a hill of beans in the larger scheme of things. Retail bears are hoping to beat Wall Street at their own game.

Retail bears are still looking to catch a wave

 The Dow bent today, but it didn't break. Its trendline held up, and whether or not this can be taken as a bullish sign will be left up to you. It still seems that it is the retail bears looking to short this market as opposed to the big traders with the real money. The "money" doesn't seem to be in any great rush. The breakdowns (if you can call minor pullbacks, "breakdowns") are slight, if not entirely inconsequential.

 There is still a target for the DJIA which leads to 13111.38

 The Bollinger Bands, which lead slightly higher, confirm there is more upside in the markets and we shouldn't be surprised if the Dow gets there. 

 The retail bears can be thankful that the S&P 500 hasn't caught the same wave the Q's have, or all hell could break loose. 

 None of this seems to deter the retailers, however, in their neverending quest for that ever-elusive, "top." How's your inbox these days? Are you still getting flooded with emails suggesting (demanding!) that the top is in?

Nickled and dimed to death?

 Perhaps that should be your first warning.

 Small money bears have been so seldom right in the last three years it might be time to stop listening to them and leave their bleak images of incarceration camps, food riots and violence behind.

 It's just a suggestion.



Always perform your own due diligence. These are only my opinions.