By Jeff Clark on the S&A Short Report Direct Line:

... The absolute giddiness of the folks on CNBC may be enough to cause bearish traders to throw in the towel despite the technical indicators that are overwhelmingly signaling an impending correction. That last exchange between Larry Kudlow and Steve Leisman was so sugary I needed an insulin shot.

But, we've been here before - most recently in early January. And every time - every single time - the indicators eventually prove correct.

There is no volume behind this move, and therefore there is no conviction. When the market turns lower there will be a mad dash for the exits.

... The higher it goes, the farther it will fall when the buying is finally exhausted.

Look at the lack of volume. This is one of the ten lightest days of the year.

Crux Note: Each trading day, Jeff Clark posts real-time, actionable commentary just like this on the Direct Line. You won't find anything else like it... and it's included absolutely free with a subscription to the S&A Short Report. Jeff's one of the best trader's we know, and he's been on a fantastic streak... He's had winners of 88%, 93%, 106%, 100%, 73%, 126%, and 69% in just the last several weeks. Click here to learn more.

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