It's time to get short the market or reduce your long positions, while the indexes are making new highs against the odds and it may not last much longer.
Market technicians and traders are expecting a pullback from the market's current levels due to extreme overbought levels, a lack of positive economic news, and possible headwinds to come (Greece, rising oil prices, & soft employment numbers). Bespoke Investment Group was out with a post on the divergence of the Dow Transports vs. the Dow Industrial Average, which can be taken as a leading indicator of a pull back. In a market trending higher the Transports would confirm the moves higher by the DJIA.
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