Markets were higher this morning, then dropped mid-day. The NASDAQ has held strong throughout the day. A string of deals has helped keep the market up. Oil is trading lower today, the entire energy complex is down as well. However, we have seen the market correct mid-day once again. Lately the markets have not been able to keep strong gains throughout the day. This may mean the markets are getting tired.
We have seen this type of activity for the past week or so, this activity has me thinking that we may be close to the end of this bull move to the upside. I think we correct, but the big correction is not here as of yet. In my view, it will be a event-driven event that takes us down hard. For the better part of a year, I have been very cautious and downright bearish on the markets, even though the markets have been on fire since then.
Although I think we are a quarter or so away from a very large, sudden and swift crash, it appears that right now the markets may try to meander from these levels in the short-term. I am overly hedged some would say, but still profiting that of the overall market.
