It Appears that the Pullback is Over

Up-volume was 78% of the total as of noon (close enough for me); my Market Internal indicator (a basket of internals) has turned positive; Money Trend is now bullish; My Volume indicator has turned bullish (a variant of on-balance-volume); the McClellan Oscillator has turned positive and that cancels the bearish Fosback and Hindenburg indicators. Looks like the pullback is over for the near term.

 

Nothing says it can’t reverse down tomorrow – we can’t really divine the future (sorry Ms. Trelawny, we failed your class) – but indicators suggest it.

 

Don’t get heroic, i.e., put 100% in stocks. A lot of issues remain in the market, but a bigger correction seems to be postponed.

 

It’s too late in the day for me to move my 401k funds back in (that’s probably OK – we may see some profit taking tomorrow); but I will be buying individual stocks and ETF’s today.