Ten trading days in a row of a net positive change. Zowie!

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Ten trading days in a row of a net positive change. Zowie!

Another day, another lifetime high for the S&P, another lifetime high for the NASDAQ Composite, another lifetime high for……….shall I go on? My bearish positions, however, remain ALL PROFITABLE, God bless ’em, with my superstar being seller-of-swill Starbucks, thanks to which my profits have gone Venti.

Although most index charts are just straight-up bottle rockets, here are three oddballs that are looking in serious trouble.
First up is the Dow Transports, which is about 90% done with an important top (pink tint), having broken away from its failed bullish base.

The market has been making lifetime highs pretty much every day since mid-April, which makes it a bit of a challenge to write about. It’s sort of like being a weatherman in a place where it’s always clear and 72 degrees. We can see a more-or-less saucer pattern completing in every time scale imaginable, whether minute bars……..
