Looking back toward the beginning of this month, it’s now clear that the pop on February 2nd was an important peak. Since then, we’ve had some important failed bullish breakouts.
Importantly, the Dow Utilities continues to crank lower. Indeed, it didn’t pay the least bit of mind to the ridiculous January 6th counter-trend rally. It never left the bearish camp.
I am also pleased to report that volatility still has a pulse. That pulse should start thumping more rapidly this week, as we’ve got a monster ahead of us.
