The Baltic Dry Index continues to move lower at a quick pace. This is not what we want to see in a recovery. This is a simple discussion of supply and demand and it is obvious that demand is not there, just yet.

Other indicators are showing a stalemate between bulls and bears as they manage to keep equities in a tight range.

For now, a break in either direction is possible, but a few of these indicators are providing clues as to which side may win out.

(Click on each to enlarge for additional analysis)

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Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.