Dow % bullish Indicator for 12/8/09 close

The indicator stood at -15.71% at the close on Tuesday. We could easily see some bearish action after such a readying, but its not a very bearish reading. Looking through the Dow there is very little bullishness and just enough bearishness to turn it negative. Mostly, Dow stocks are holding moving averages and not significantly breaking down, though there are a few.

I take today's reading as a reason to increase caution. If the Dow closes down significantly today we are likely to revisit lower up trend lines and moving averages.