The stock market is dangerous because it is technically overbought, sentiment is frothy, and the monetary tailwind is weakening (interest rates are going up around the world, counteracting stimulus). Against this the I1 is uptrending, but not on a buy signal which means that sentiment will be supportive to the peak but not overwhelmingly bullish. The market can go down in the face of I1 uptrend, but we will not have a crack-up until after the peak.
I am waiting for my moment to go short. In almost any other market environment I would have used yesterday's close at critical support to go long. I just cannot bring myself to do it here.
Crude trade is in the money, stop USO 39.22, exit DTO 65.84
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