Still looking for a top. Today, I saw a major signal for a possible top. I went to work out around lunch. I travel to another small town where there is actually a decent workout facility. Decent of course is relative. They have all the options but it is in a dingy warehouse sort of place. I am often times in there by myself with sometimes up to 3 or 4 other people if it is hopping. Well today, an individual came in who I have seen before. He starts working out on the elliptical, turns on the tv, and low and behold he turns it to CNBC. I couldn't believe it. I am the only one who ever turns on CNBC in this place and get strange looks when there is anyone around. I wanted to know if he was somehow a professional investor and started talking to him. Nope, just a hobby. He couldn't stand looking at the market last year and wishes he would have invested more in March but now it looks sort of interesting. I started getting sort of excited. A top must be close when the stock market makes it to a town of 5,000 in the middle of cow country.
I don't mean to say this indicates a top was made today (it may have been) but one more sign that the days are ticking down for this seemingly never ending rally.