WHAT I WOULD DO LONG TERM: Nothing has changed since last week. I would remain 100% out of the stock market until the intermediate term trend flips back up in the direction of the long term trend. Have a great weekend!
Saturday, October 27, 2012
IT'S OFFICIAL
THE TRENDS: While the long term trend remains up the intermediate term trend has turned down. As you can see on the weekly SPY chart, the week closed below last week but more importantly also closed once again below the 10 week moving average and the high made in April of this year. The probabilities highly favor a further down move to at least the 138 - 140 level.
WHAT I WOULD DO LONG TERM: Nothing has changed since last week. I would remain 100% out of the stock market until the intermediate term trend flips back up in the direction of the long term trend. Have a great weekend!
WHAT I WOULD DO LONG TERM: Nothing has changed since last week. I would remain 100% out of the stock market until the intermediate term trend flips back up in the direction of the long term trend. Have a great weekend!
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