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Market Tracker, 5-20

|Includes: DIA, IWM, SPDR S&P 500 Trust ETF (SPY)

     Today was yet another good day to be in cash. It looks like the markets are changing. Something is shifting under the surface, and it's tearing things up. This is the first down segment since the market turned up in March of 09 to have over 5 million shares down volume on SPY, for the 13-day EMA to cross above the 200-day EMA of the VIX, and a host of other indicators are showing a much bigger correction. Price  wise, we're getting close to a double bottom. If support at $SPX=1050 is broken, I will reenter short positions. However, this is a very strong support point and will likely serve as a bottoming point for the markets. We must note that things have changed. If the market bottoms, the resulting up movement will likely be lackluster and short-lived. This bull is getting exhausted. This is a time to be very cautious, because it appears that the cyclical bull is getting close an end.

Disclosure: None