I am not going to write a long commentary tonight as I really don’t see anything too important out there that I need to spend too much time focusing on. The biggest event was the late day selloff in the stock market. However, some are forgetting that the DJIA and SP 500 still closed higher and that volume was lower on both exchanges, with volume being below the 50 day volume average on the NYSE for the 41st straight day in-a-row.

Also, don’t forget the NYSE has hit ANOTHER all-time high at 13.66 meaning that it would take 14 days to cover all the shorts on the NYSE right now, on average volume. Even without volume, the market has an upward bias and I do not want to short a low-volume market especially when the short-interest are at astronomical levels in so many stocks. That is how you end up with MXC and PDO.