THE TRENDS: As you can see on the weekly SPY chart the market closed higher than the previous week. As I mentioned two weeks ago a "normal" correction would end in the 142 - 144 area. The low was actually made at 142.95 before the rally last week. Both the intermediate and long term trends remain up.
WHAT I WOULD DO WITH LONG TERM FUNDS: I see no reason to get out yet. But I continue to watch the 142 - 143.26 area very closely. If we get a weekly close in that zone, other factors point to a potential flip in intermediate trend. Have a great fall weekend!
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