SITTING TIGHT

THE TRENDS:  Both the long term and intermediate term trends remain up.  However, for the 3rd straight week prices have closed right at/near the previous major bull market highs (see weekly SPY chart).

WHAT I WOULD DO IN LONG TERM ACCOUNT:  Nothing has changed relative to my comments the previous two weeks.  I wouldn't throw any new money at the market and would be very vigilant to exit 100% on the next intermediate sell signal.  I would ONLY get 100% invested again if the market makes a significant move above current levels.  Have a great weekend!