Market Vitals: Staying bearish on equities ... for now.

We remain bearish on equities ... for now.

Why?

* Wave count makes sense * Failure at the high (chart resistance) * Bullish sentiment rising * Dow Theory Non-Confirmation still in play, i.e. no confirmation from Transports * Economies of Europe and China slowing more - corporate earnings revisions? What changes our 'short' view?

Market Vitals | 23 August 2012 [http://blackswantrading.squarespace.com/storage/market-vitals/082312_mv_djia.pdf] ~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

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