Although the daily magical levitation continues across the equity markets (in spite of the world going to hell in a handbasket), I’d like to meekly point out that the mid-cap index is playing with fire. Take note of recent action, and in particular pay attention to that red support trendline.
That line has been intact since March 2009. At this point, one good, strong down day would snap it. And that day, friends and neighbors, could be just around the corner, as breadth is continuing to utterly lag the headline numbers that you see on the news at 6 o’clock each evening.
