STILL A MIXED BAG

THE TRENDS:  The long term trend remains up and on a technical basis so does the intermediate term.  However, I'm defining the intermediate term trend as "neutral".  The reason is that half of the indications I look at point to a trend continuation while the other half say "caution".  As you can see from the weekly SPY chart the week closed slightly lower than last week at 141.16.  This is slightly bearish.

WHAT I'M DOING LONG TERM:  As I shared with you last week I took profits on 1/2 of my position last week and moved my stop on the other 1/2 to 136.08, which is the last intermediate term buy signal.  Due to the cloudy intermediate term outlook I am now moving my stop to just below the 138 level, which is just below the 10 week moving average.  If price declines to that level it will in all likelihood signal an intermediate term down trend.  I hope you all have a great holiday weekend.  Fly your flag with pride!