Although the market closed up again today, there are signs that the latest uptrend could be weakening. For the second day in a row, the market sold off during the later half of the day. This market could continue to rise until most of that "sideline" mutual fund money has been fully deployed. The problem is that we won't know exactly when that happens. I can tell you this...as soon as that late money is in the market, we could be in for a sharp decline. I think those latecomers are the only thing holding up this market. That is why I don't trust this latest move. Some of you may disagree with me and keep trading the uptrend. That's fine with me and I'll be rooting you on and hoping that you have success. As for me...I'll be content to stay on the sidelines for a little bit. Since I am sitting on the sidelines, I may not have very long blog postings over the next few day...unless something big happens that requires an explanation or prediction. If nothing new happens, I might not post anything at all.
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