As I hinted this weekend, I gave quite a few UP signals this week (461) versus 98 new DOWNs. I was asked whether this meant I was calling for an intermediate term rally. The short answer is “NO” - not because I don’t believe it could happen but just because I don’t like calling bottoms or tops. It’s all about the probability of market direction and right now, I am still bearish. However, based upon the strengthening technicals I saw in so many stocks, I have become less negative in the short term (especially on those individual stocks). Obviously, the fact that the market has dropped another 2% since I decided on these signal changes doesn’t seem to validate my declining bearishness. Fortunately, I don’t measure performance based upon a few days and I am willing to give it some time to play out.