No
significant change in our recommendation.
Volume has been trending higher on down-moves more than up-moves over
the past 5-days, and that is usually not good.
On the other hand, volume has been so low that the indicator hasn’t moved
much. Volume is the only indicator
currently recommending a Buy so we can’t complain about that.
The
only significant change has been the sentiment indicator. It has moved up from under 50%-bulls last
week to 65%-bulls, a whisker away from a sell recommendation tonight
(66%). When 2 out of every 3-people
think it is time to buy, it is really time to sell.
We
could still have a Buy signal if we get a big up-move. That might bring in more bullish sentiment
and send us back to Hold or Sell. In any
event, the Navigate the Stock Market System needs more than 1-indicator to
agree before we will have a firm recommendation either Buy or Sell.
The
bottom line is that the market remains unsettled without any firm direction.
From
today’s data, it appears we may have trouble breaking the previous high of 1343
on 18 Feb. So far, we haven’t broken
1333 in 2-tries. We may yet retest the
16 March low of 1256.
As
always, we’ll have to wait and see.
The
Navigate the Stock Market analysis is HOLD.
I
am still conservatively positioned with only 30% invested in stocks.
