Last week was the first time in 6 months that the volume in the Venture showed a clear distribution pattern - even the Nov correction did not show this. Now the question is - was that just delayed profit taking for tax deferral purposes, or something more?

Given the stort-term oversold conditions in the PMs, and the numerous bottoming candles on Friday, we should start the week with a bounce. The quality of the bounce should answer the question. If it's just a weak day or 2 bounce [or no bounce] followed by a close below 2210, the correction will likely last for several weeks. If it's a strong bounce on good volume, Party On Dudes!

I'll continue to sell into any available strength until I'm convinced the party is still on.