Odd week in the markets last week. The market still hung in there and the s&p clung to a gain. The nasdaq was also up and the qqq up nearly 1.5%. Overall the market is really trying to hold up and the bulls are hanging strong but we are finally starting to see a few red flags that should give us pause. One of them is in the russell2k which finished down 3% last week. Im still very bullish on this market but i do think we really need a nice strong pullback to suck in some shorts add some fear to the markets. Things are getting complacent and when that happens it can get dangerous. Right now though its up to the bears to convince us they have something other then just an occasional shakeout like thursday. We need a day like that along with some follow through to really get defensive.
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