Thursday, January 19, 2012

That's more like it.

It's safe to say the S&P 500 index has officially broken through the declining tops trend line.

In addition, the long-term market trend is completely bullish for the first time in 6 months.

The problem is that other indicators are quickly reverting to more optimistic values that are more typical of market tops than market bottoms, so this rally could be over not long after it's begun. Notice in particular how little volatility there's been in the past couple of weeks. No, I'm not going to jump into any bull market funds any time soon.

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