Have we seen this before...

Could the market be ready to take a breather? The MO shows we have gone negative for the short term. It also shows the overall market is extended and could be ready to snap back.

The IYM chart below shows it came up against multiple points of resistance. It dropped on Friday so we'll see what happens on Monday. We've been in a nice uptrend since December -- it would not be surprising to see the market regroup for a week or so and then start the move back up. Monday and Tuesday will tell us a lot but the MO and the charts are saying IYM will test $67.00 in the next 5 - 10 days. Take any gains off the table from the past month or so and think about buying SMN or even TZA.