The “under the surface” signals have been quite bearish for the past 1-2 years. Money has rotated away from aggressive areas and I’ve discussed it here and my Trading Places blog quite often. But it was very difficult to think bearish thoughts as long as the combination of price and volume remained bullish. So I’ve been waiting to get the bearish price breakdown before re-evaluating the market. That breakdown came last week during one of the most historically bullish periods of the year – strange indeed.