The S&P 500 is up 4% from its recent correction low of 1257 just 6-days ago. We are now at the upper trend line of the current channel. If we move too far above trend – the trend is over and we’ll start up. Will we make it? I’m skeptical; I still expect us to test the 1257 area.
All NTSM indicators went to Neutral today.
I am still only 30% invested in stocks. There’s enough bad news to justify caution here so I am fairly comfortable. I may feel differently if the S&P goes on an upward tear and leaves me with too much cash. As always…we’ll see.
