Tim Knight is a grumpy bear today: nothing's broken on the bearish side, the failed trend lines still haven't recovered and the market sits below its early-October highs, but a fresh peace-deal rumor keeps goosing stocks higher.
The chart that nags him is the divergence: GE Aerospace and GM both fell hard today and sit roughly 20% off their peaks, yet the indexes shrug it off.
He's trimmed to 25 small shorts and thinks earnings week finally forces a direction.
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