STOCKS: So why did the market finally move lower after 8 days of positive breadth in a row? Some cited the unrest in Ukraine and Thailand. Others discussed a new terrorist threat for airplanes coming in from abroad.

We know the market likes to screw up as many investors as possible. A friend and fellow analyst, David Nichols of the Fractal Market Report suggested that the market destroyed the longs in January and then destroyed the shorts in February. We can see that in the chart.

CHART: The S&P 500 curled down from an overbought condition. Tops are not as easy to pinpoint as bottoms, but this is normally a negative for the next several days or weeks. Stay tuned.

SHORT TERM TREND                 Bearish

INTERMEDIATE TERM TREND   Bearish

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