Imminent S&P 500 Top In Question

We are working on client game plans; comments will be brief. Yesterday’s close above 1,325 put the daily DeMark combo count into a fragile state. There is some hope for it being a good signal if we remain below 1,331.91 on a closing basis. The outcome could be bullish since “bad signals tend to be really bad”, which is reflective of a strong market. Odds are good we will make some moves today, especially with a close above 1,331.91.

Other factors: German bonds weak, U.S. dollar weak, euro strong, Italian yields falling, European stocks firming.