RISKY TIME TO BUY

THE TRENDS:  I could virtually repeat what I said last week.  In a nutshell, both the long term and intermediate term trends remain up BUT price is right at/near the price levels where the last two major bear markets occurred.  As you can see on the weekly SPY chart although this past week closed higher, it did not do so with much conviction. 

WHAT I WOULD DO WITH IRA OR 401-K:  I would be even more vigilant about protecting my profits than I was last week.  I would move more money into cash and only be exposed about 25% to the market.  I would be quick to exit the balance on an intermediate term sell signal.  The reason being that the probabilities are high that the next intermediate term sell would eventually evolve into a long term bear market.  Have a great weekend!