The changes that I was noticing on the price action were confirmed during the last few days. The SPY has been making lower lows for the last 6 trading days.
However, the drop has been less than 4% which is not enough to say that the bulls are suffering nor that the bears are happy.
Remember one of my hardest tasks is not to be influenced by my own market view.
Here are a few charts that help me reach key conclusions:
My last commentary: