MOVING HIGHER

THE TRENDS:  Both the long term and intermediate term trends remain up.  As you can see on the weekly SPY chart, the market not only closed up again, but it made an all time high, rising above the previous high made in 2007.

WHAT I WOULD DO WITH LONG TERM FUNDS:  The last several weeks I've pointed out that I would only have 50% of my funds in the market due to the fact that we're at levels where historically very large declines have taken place.  Well, now that we've closed at long term highs I would take that as a sign of strength.  I would slowly commit more to the market, maybe 10 - 15% or so, and gradually get 100% committed as the market moves higher.  The reason I would not go all in just based on this new high is that there is still a decent probability that this move may just be temporary before the market turns back down.  Have a great weekend!