We should get back to the recent high of 1364. At that point we’ll just have to watch market action. Greece issues seem to be put off for a while since the current Government survived a confidence vote. Gas prices are falling quickly.
I think we are all clear and the rally should keep going, but not straight up, of course.
Everyone is blaming the Japanese earthquake for this slowdown, but we have to remember, that the Government spent a trillion dollars via the Recovery Act that was designed to stimulate the economy. That money is gone and the projects that were started are done or close to done. I think that is why we are seeing a slowdown now. Throw in some high gas prices that suppress spending and here we are.
Our Navigate the Stock Market VIX indicator is down 18% since the successful test of the 200-d MA last Thursday. That is certainly good news.
NTMS is HOLD Today.
Since volume analysis called a Buy last week on the Successful test of the prior 1257 correction low, I upped my investment position to 50% invested in stocks overall. If the news gets better, I may up the invested % soon.
