NO DOUBT

THE TRENDS:  While the long term trend remains up there is no doubt about the intermediate trend.  As expected the market moved decidedly lower and on heavier volume than the previous week (see image).  As you can see the market closed right at/near the high made last October.  The market action should be very interesting in the next several weeks.  It is conceivable that this is the level the market will find support for another leg up.  On the other hand, if the market breaks through this level on strong volume, the next down side target is the low made last November.

SUGGESTION FOR 401-K:  There is NOTHING positive right now to suggest getting back into the market.  I'm 100% in cash.  Have a great weekend everyone.  I'm off to go fishing with my buds!