SAME OLE SAME OLE

THE TRENDS:  Both the long term and intermediate term trends remain up.  As you can see from the SPY Weekly chart, this week opened at about the same level it closed the previous week.  It then declined to "test" the 10 week moving average, only to rebound later in the week to finish strongly.  Not to sound like a broken record, but this is bullish behavior.  The probabilities are very high that the 142 level will be tested on the up side.  The ONLY issue I have with the up trend is that it is moving up VERY slowly.  I'd like to see more conviction as the market moves higher.

WHAT I'M DOING WITH LONG TERM FUNDS:  I'm still in 100% but will continue to watch very closely for signs of an intermediate sell signal.  Have a great weekend everyone!