Something is Seriously Wrong with this Rally

Breadth stands at just 65%, with the Dow up 309.

Get the fuck out of here.

I’ve seen many rallies in my time in Wall Street. I don’t believe I’ve ever seen a rally like this one, so strong on the exterior, but weak underneath the surface.

It’s as if today’s rally was merely a facade, a rouse in order to permit sellers to exit while the chumps stay chomping away at the bit.

I hope I’m wrong about my suspicions and the weakness is just a few bear market remnants working out the kinks. But if I were you, I’d be especially careful about adding to long positions here.

Downside hedges might work best in a structure built upon sand.