Tuesday, November 11, 2008

Neutrality

Just about everything is in neutral right now. Not only is the S&P 500 index lingering in the 840-1000 range, but the short-term market indicators that I watch are also at intermediate levels - neither bearish nor bullish. Sentiment indicators were moving into optimistic and bearish territory earlier, but the recent retreat of the market has pulled them back.

In the meantime, the long-term trend is still a bear market, and the odds favor the market falling further before reaching bottom.

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