Guy Ortmann is Senior Technical Analyst and Director of Research at Scarsdale Equities, a boutique investment banking firm in New York. He is a  Chartered Market Technician as well as  a registered fundamental research analyst  (series 86, 87, 7, 63, 24) with almost 30 years of  experience on Wall Street.Expand

His technical research involves general markets, sector specifics and individual equities, that have been noted in  Forbes, Reuters, Dow Jones Newswire among other publications.Collapse

Which stocks are trending bearish, which are going bullish.
When everyone is bullish, any proverbial bump in the road is more difficult to absorb.

S&P 500 Internals Weaken Real Money Pro($)

But the short-term outlook is still neutral
These stocks are indicating a change in direction.
Some indexes closed below their moving averages, and insiders continue to sell their stock.
When insiders are very active sellers into an otherwise broadly embraced rally, it is time to pay heed.
The scale is weighted toward the bears and industrial names in particular.
We think it advisable to not let our emotions be swept away with too much enthusiasm.
Our short-term outlook has turned to 'Neutral/Positive' from 'Neutral.'
These names are indicating a change of direction.

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