The correction camp is getting crowded. Dennis Gartman, flip flopper extraordinaire, is back to neutral, after he was pleasantly bullish. He is looking for a correction. So is Ralph Acampora, who was very bearish in early February, and now he's looking for a correction in stocks, because of the divergences. Both are contrarian indicators, looking out over several weeks. They may be right for a few days, but rarely right for longer than that.
Unfortunately, I am also hoping for a correction, but I am NOT short stocks. I doubt we go below 1850, and probably won't even break 1860. So any correction will be tiny, a 2% shake out, nothing more. The ECB bazooka is coming in the first week of June, and it would be insane to short the market ahead of that with Gartman and Acampora looking for corrections.
The bull market rolls on, amid the complaints of many.
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