Continuation versus New positions

The strength in tech has been impressive and this chart is something to behold. If you've been swing long for a while are are enjoying gains every day -- great, take some off and be on the look-out for potential reversal. But it's our job to come up with new picks everyday for the newsletter and it's getting more and more difficult with each up day. A pull-back would freshen the air and set-up many more charts (tonight we had one of our thinnest newsletters this year with only a handful of new picks).

A January reversal would fit the bill.