SUMMARY
OF NTSM INDICATORS:
As
of today’s close, our 4-areas of market analysis present the following picture:
SENTIMENT: Neutral.
Sentiment is up to 63% Bulls. That’s really amazingly high, given
everything that is going on in the world.
Alcoa’s positive earnings definitely pushed up bullishness. Sentiment is a contrary indicator – high bullishness
generally predicts bad market action ahead.
That’s not always true, however; sometimes the herd is right to be feeling
good.
PRICE: Neutral. The upside moves have been pretty good over
the past month or so, but this indicator is stubbornly holding on to a neutral
position.
VOLUME:
Neutral. Our variant of On Balance Volume switched to Hold today after 2-weeks
of buy indications.
VIX:
Neutral. The daily value of VIX is up
25% in the last 7-trading sessions, The VIX indicator has not been a buy for
2-months.
Overall
the NTSM analysis is neutral on the market, recommending a HOLD.
I
remain 50% invested. That is my fully
invested position for the time being. I really want to see what will happen to
the US debt issue before committing additional funds to the stock market.
