Due to the extremity of signal reversals I made at HEDGEfolios during mid-July, I have been on the lookout for any indication that these trades were very temporary. Until last week, I saw few cracks in the move. I am not going to overstate the importance of my concerns. After all, the lack of volume during mid-August and the vacation plans of many market participants tells me to desensitize my decisions. So I did that but regardless, I have become less positive. This week, I gave 245 new DOWNs vs. 71 new UPs in the stocks I cover and NOTE THIS….55 new DOWNs in the ETFs vs. only 2 new UPs (both of those were bond ETFs.) Approximately 80% of the stocks I became negative about were given UP signals during the 3 weeks in late June and early July. Only one ETF signal I changed was older than 4 weeks. To say the least, this past week really caught my attention.