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

Despite positive chart trends, the scales are counterbalanced by data.
These names show technical characteristics of bullish or bearish reversal patterns.
The risk of a correction has increased but sell signals have yet to appear.
Multiple points suggest market upside is limited while downside risk is increasing.
Companies that marked turnarounds -- for better or worse -- last week.
Charts are giving more warning signals and psychology data flash yellow lights.
Insiders have now become active sellers, in contrast to their buying activity at the November lows.
And the indexes may well be entering a period of consolidation, given the magnitude of the recent rally.
Charts showing up or down trends in the past week.
The degree of a potential retracement is uncertain and could prove to be modest.

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