NFTRH has been noting fading market participation for many weeks now as Bullish % continues to drop behind elevated prices in key US indexes.  We have also been noting an ongoing bearish divergence by the the Equity Put/Call ratio for months now.  Along with this new trend in the CPCE, came a flattening out of the S&P 500 on its road to nowhere. *

In NFTRH and publicly, we have been tracking the fade out of leadership indexes and also noting the fade in speculative urges as represented by junk bonds and junk bond ratios to bonds of relative quality (Treasury & Investment Grade). Here is the still bearish view.

* Which will surely be somewhere soon enough