Market Update

Hello Everyone. No doubt most of you are getting a little concerned and rightly so. We haven't seen much to be positive about since April 30. It seems that every time the market has a strong up day, it is met with selling the next several days. Today the S&P Index closed at 1067.95 which is down 10% from the April 30 close. Remember I mentioned two days ago that if the daily close of the S&P Index closed below 1065 on strong volume that would give a high probability indication that the green arrow will flip to red? I stand by that. If the market closes between now and Friday below that level on high volume the green arrow flips to red. It is also possible that after Friday's close analysis of the monthly chart may also flip the arrow to red. If the S&P Index closes below 1065 on Thursday I will post that evening. If not, check the blog after 12pm on Saturday for an update.