NO CONVICTION YET

LONG TERM TREND: Volume on the week after the holidays was even lighter than the week before Christmas and the week before New Year's Day. Although the week closed higher than the week before the market basically closed where it opened on very low volume. In addition, although the market has rallied a bit above the 40 week moving average, the average itself remains down (red), which is bearish. Bottom line is that there is still not enough bullish sentiment to convince me the long term bias has shifted to the up side. Price has yet to rally above the October high at 129.42.



SUGGESTION FOR 401-K: I am still on the sidelines with my long term money. Be blessed and have a great weekend.