Recurring Pattern

After the up day, we get weakness the following day and collapse around mid day. We are following that schedule, but this market is stronger than it was late last week. It is these drops out of the blue that are warning signs that the bull firepower is absent. I don't think we'll collapse today, but the odds intraday are in the bear's favor on most days. After the nonfarm payrolls on Friday, I don't see any bullish catalysts for this market.