Over

This market is so over.

I'm not sure what the catalyst is, but the exhaustion phase is here.

Canada's most-watched index, the TSX Composite, is the most overbought it has been in the last 20+ years (chart below), relative to the 200 day moving average. So what are you guys waiting for? A bell never rings at the top or bottom. Most turning points creep up on you without warning.

XIU ETF % Above 200 DMA

Additionally, there is a lack of volume confirmation in conjunction with the declining level of breadth.

XIU Chaiken Money Flow, Price

TSE Advancing Issues Percent

Cash in your bets, gamblers, it's getting frothy.

Risk Model 1/5 - Risk Off

Only the AAII bull/bear ratio is favourable, but it does not confirm the new highs here. Sell!

AAII Bull/Bear Ratio