BEAR SQUEEZE

This has been a bear squeeze of note, I am starting to think with this blow-off and the fact that DSI-sentiment on the Blue Chips has matched and exceeded the August 2007 highs that this may be the end of all of wave 2. If so this is incredibly bearish and I will need to keep vigilant to see how the selloff develops. For now I will still treat it as a pullback for further highs, but I am dropping my confidence in this count to around 55%.