Here is an update of the daily S&P 500 chart. You can see my system has me short as of Friday's opening. This is a short term trade that will be exited on Monday's opening. My big picture timing system is ever so close to giving a sell signal now, it just missed on Friday's close.
Not to worry because most significant highs are not made in February, so we will probably go up itleast one more time. My short term signal was based on entirely different parameters than the big picture system.
Notice large divergence that continues to be in place with the Bond market below. This at some point is going to spell trouble for stocks, and it may already have triggerred something. The small graph at the bottom is just a moving average of the tick index. This is something I am playing around with, but have not really found any use yet for. It can be ignored.
The commercials have also gotten heavily short as of this last weeks report, so it is only a matter of time before a decline hits.