Market Tops Are A Process Not A Single Day Event

Art Cashin weighs in and i am starting to join this camp as of late. After turning bullish in late March, I am starting to not like the long side here. I know that tops and bottoms are a process and take a while to play out but i am seeing more and more evidence that showing me that longs need to start playing a little defense. The markets will give many head fakes as it works out this potential topping process. Leadership and volume is clearly waning down and that is a big problem for the bulls.

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