comments and outlook for 08-23-2011

The ECRI's WLI (Weekly Leading Indicator) has gone negative.  Most of the time once this happens we get an official recession.  Not much up side at the end of the day.  Still the market seemed to want to rally.  So the pressure is building underneath the market IMO.  We are overdue a substantial pop.  Could it be today?

Here is the SPX:

GL traders.  Be careful - bears are nearby.