Where angels fear to tread

Today's rise was on even smaller volume than Friday's action, which surprised me honestly.

Strongest Index is the Nasdaq (really more specifically the QQQQ's); weakest is the Russell 2000.

I think there are some similarities between what is going on now and what went on during early July: declining volume, with major averages ascending on the backs of fewer and fewer leading stocks.

The cheerleaders aka criminals are in full force. I'd be very careful long on the long side. The bullish wave has been very sudden, very fast, and very thin.

However if we can hold these levels, it is probably time to me to buy back in...but not now...there is still way too much damage.