Turning Negative on Equities

Today for the first time in many weeks I getting negative on equities ... but maybe I am getting too early as we still have 100 points to go the reach the 1000 level on S&P that I talked about four weeks ago, but I most admit I start to see sell signals in many places.

For sure most of them are anecdotal in nature, but we also have the next full moon on Saturday. As it didn't work last time focus is less this time around with the market moving from A (H1N1) to the "Bull Flu".

At least I see a short term sell signal in front of Fridays employment data.

China H-shares ETF:

SDS UltraShort S&P500 ETF

I fully understand the improvement in data could continue for some time to come. See InsightView for some very good short macro comments. Further many investors could still be forced into the market. And macro funds still seems to be struggling with the rally.

And maybe VIX should fall some more ...

I posted some of the arguments for the bull-run to continue above, but I still got that selling feeling, but I have been wrong before so let us see ...