SUGGESTION FOR 401-K: For the reasons stated above I still have my longer term funds in cash. Have a great weekend and please don't hesitate to ask if you have any questions.
Saturday, November 12, 2011
FORMIDABLE RESISTANCE
LONG TERM TREND: The attached weekly chart of the SPY, which is an exchange traded fund which mirrors the movement of the S&P 500, continues to show the market is having trouble exceeding the 40 week moving average. For the third straight week the market has closed right around the average. Until it rises above this average with some conviction IMHO there is no reason to believe that the most recent leg up is anything more than a bearish correction.
SUGGESTION FOR 401-K: For the reasons stated above I still have my longer term funds in cash. Have a great weekend and please don't hesitate to ask if you have any questions.
SUGGESTION FOR 401-K: For the reasons stated above I still have my longer term funds in cash. Have a great weekend and please don't hesitate to ask if you have any questions.
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