Thursday, August 28, 2008

Still no trend

The S&P 500 is well above the bear market low of 1214 that was reached on July 15. The only clear trend formation that has formed since then was broken on August 19th, producing a bearish signal. However, the market hasn't settled on a new trend yet, and most of the market indicators are neutral.

So far my prediction of a boring summer conclusion is panning out.

2 comments:

Dan said...

Jody,

Your thoughts on today's sharp market decline?

Stay with 50/50 cash/SDS at this time?

Thanks

Jody said...

For the time being, my patience with the August 20 SDS purchase has paid off. However, it's not official until I actually cash out with a profit.

There's still no trend to report, nor any big changes in the market indicators. One big down day does not a trend make.