For ten weeks, stocks have been ratcheting relentlessly higher, perhaps inuring us to the possibility that the stock market is going to fall apart one of these days. However, rather than twiddling our thumbs waiting for the next, presumably inevitable, short squeeze, let’s be ready lest we miss the downturn. Accordingly, I’ll suggest setting a screen alert at 1352.75, just beneath the #2 external low shown in the chart. Keep in mind that sellers would have to push the futures through both lows without an upward correction in order for the move to be considered truly impulsive. More immediately, there was nothing remotely interesting happening Monday night.
