Growing divergence

Mountain sized breadth divergence has developed while S&P and DJ 30 make new high.

Small caps are getting sold daily and they never participated much in this bounce.

Number of high flyers are showing signs of running in to selling on new high or in pullback mode.

Breakouts are failing same day or next day.

It has become extremely selective move with very narrow bunch of stock leading the action.

Prudent course for short term swing traders is to lower exposure on long side to minimum, keep tight stops, protect open profit , be extremely selective on long side and see how the divergence resolves before making aggressive bets.

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