NOT TIME YET

THE TRENDS:  The long term trend is still neutral.  This week the market closed very strongly above the 130 level, which on it's own was very bullish.  But technically the intermediate trend remains down.  One of the reasons can be seen on the chart below.  Notice the cyan and red line on the chart?  This line is a 10 week moving average.  Now look at the two circled areas on the chart.  These represent the bear markets in the summer of 2010 and summer of 2011.  Notice how a sustained bull trend never got underway until price broke above that line decisively and the line turns cyan.

SUGGESTION FOR 401-K:  I am still out of the market as the intermediate trend has not yet flipped up.  Have a great weekend everyone.