NOT TEMPTED YET

LONG TERM TREND: Last week the SPY rose for the 3rd consecutive week. But as I pointed out last week we are getting close to a very important resistance area. The marked closed at 123.97 this week and price is now very close to the 125 area and the 40 week moving average at 127.55. If the long term trend is going to reassert itself it MUST close and hold above this area on a weekly closing basis. Until then, the probabilities favor that this may simply be a bullish correction in a longer term bear market.



SUGGESTION FOR 401-K: I'm not back in yet due to reasons stated above. Have a great weekend.