THERE IS NO NEED TO FEAR. PLEASE RETURN TO YOUR CABINS, THE ICEBERG ONLY MEANS WE HAVE MORE ICE FOR YOUR DRINKS.

This market is trade-able but it might be the last time before we get into a major correction that originally I thought would be on or about March 1st now I might have to move it back to June 1st as QE3 might slow things up. We could get Israel to help us get things back on track though. The SP500 is 42% over it's historic median trend line over the past 130 years and 70% over the median bottom adjusted for inflation over the same period. Bubble vision (CNBC) still touts nothing is wrong and everyone says your missing the market. I don't think so but time will tell. The chart below shows the percentage of stocks above the 200 day moving average- a little top heavy, hey-and the relative strength and moving average convergence graph below. You will see three negative divergences. Each time a new top has been made in the stock market averages and the stocks above their 200 day average all three indicators have been trending down, NOT UP, as they should be in a strong market. Remember what happened in June 08 when all three crossed over (see below), I hope you owned a lot of PUT options I did, and I do now.