not a bad call to buy dip last Thursday

The blue indicator just made an impressive spike up.

This is definitely a warning sign, as it signals that the party is climaxing, and may be near its end.

Having said that, I would like to see the red indicator picks up in value a little bit (which would indicate the amount of selling activity is starting to pick up), only then would I feel comfortable flipping to the short side.
 

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updated chart as of eod yesterday. based on prior data, it's about time to consider shorting the market. however history may not repeat itself, and ymyd. it's also riskier to short the market in a bullish environment, and short signals tend to be less reliable in such times etc..
 

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the chart in my last post should have been 010714, as it was calculated from eod data yesterday.

here is today's chart at market close.

the indicators do look bearish to me.
 

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