STILL OUT

THE TRENDS:  The long term trend remains up but the intermediate term trend remains firmly down.  This week the market closed lower that last week and just as importantly closed lower than both the 10 week moving average (cyan line) and the 40 week moving average (white line).  SEE IMAGE BELOW.

WHAT I WOULD DO LONG TERM:  Four weeks ago I mentioned that I would move all of my money in mutual funds into cash (see arrow on image).  The most recent price action suggests a further move lower.  Until the intermediate term trend flips up, there is no reason I would commit any funds back into mutual funds.  Have a great weekend everyone.