Food for thought

Lately we have been warning you that markets are getting toppy and ready to head south. But what next ? We don't know and don't expect me to tell you there's a crash around the corner. Actually if we look at the chart of Disney it might telling us that no THE TOP is not there yet as it seems to be moving sideways in a large bullish triangle. In other words not much action before one final big push. That would go along with the running cumulative total of daily breadth which is making new high in sync with the NYSE. Usually big tops are showing divergences between the two with the daily breadth weakening before the index.

Disney is definitely a stock to keep your eyes on.